Israel hopes to conclude a government-to-government memorandum of understanding between Turkey and Israel this summer on a proposed pipeline between the two countries, Israel's Minister of National Infrastructure, Energy and Water Resources, Yuval Steinitz said on Saturday.
The proposed pipeline would be significantly cheaper, have fewer infrastructural complications and could likely be completed within three years, the Minister said in an interview according to local media outlets.
Steinitz also noted that he has already held three rounds of gas agreement talks with his Turkish counterpart, Berat Albayrak, since his visit to Turkey last October.
On Oct. 13 last year, Steinitz visited Istanbul to attend the World Energy Congress 2016, marking the first visit by Israel after several years.
Turkish Energy and Natural Resources Minister Albayrak and his Israeli counterpart agreed then to enter talks to discuss a project to allow the transmission of natural gas from Israeli economic waters through Turkey and onto Europe.
Turkish and Israeli companies are currently discussing a possible gas pipeline to be built between Israel and Turkey to transport natural gas supplies from the Leviathan gas field in the Mediterranean Sea off the coast of Israel to Europe.
The Leviathan field, discovered in 2009, holds an estimated 613 billion cubic meters (bcm) of gas with 39.4 million barrels of condensates. The field is set to begin production in the fourth quarter of 2019.
"So once Leviathan is developed, or shortly after that, Israeli gas will already be supplied to Turkey,” Stenitz said, according to local media.
(Anadolu Agency)
