Global consortium to be set up for exporting Israeli gas to Europe: CEO
At least 15 gas infrastructure companies plan to set up a consortium to export natural gas from Israel's offshore fields to Europe via Turkey, a senior Turkish energy company executive said.
Batu Askoy, CEO of Turcas Petrol, said in an interview published Wednesday that the project is estimated to handle an estimated 8 billion cubic meters (bcm) of natural gas a year, possibly as soon as 2021. He added that the project would require agreements to resolve any longstanding issues between Turkey, Greece, Cyprus and Israel.
Turkey, which consumes 50 million bcm of natural gas a year and purchases half of that amount from Russia, plans to diversify its sources and acquire gas from Israel.