Azerbaijan offers talks on natural gas supply

The Azerbaijani government is willing to supply gas to Israel through the Tbilisi-Baku-Erzurum pipeline.

The government of Azerbaijan has invited Israel to begin negotiations on the supply of natural gas. Speaking at a recent meeting with Minister of National Infrastructures Benjamin Ben-Eliezer, Azerbaijan’s Minister for Economic Development Heidar Babayev said that his government was willing to supply gas to Israel through Tbilisi-Baku-Erzurum pipeline.

Israel currently receives natural gas from Yam Thetis gas field off the Ashkelon coast, with the supply of gas from Egypt’s East Mediterranean Gas Company (EMG), in which Joseph (Yossi) Maiman is a partner, due to begin 2008.

The Ministry of National Infrastructures forecasts that 40% of Israel energy requirements will be based on natural gas by the end of the decade, and it is feared that the current sources will not be sufficient. Recently, Israel has been negotiating with BG Group (NYSE: BRG; LSE: BG) for the purchase of gas from its gas fields on the Gaza coastline, although these negotiations will be subject to review by State Comptroller Micha Lindenstrauss.

Published by Globes [online], Israel business news - www.globes.co.il - on February 22, 2007

© Copyright of Globes Publisher Itonut (1983) Ltd. 2007

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018