Sources inform ''Globes'' that Minister of National Infrastructures Benjamin Ben-Eliezer is due to hold another round of meetings with Gazprom executives in ten days in order to promote natural gas imports from Russia. The sources added that following Ben-Eliezer's trip to Azerbaijan, there has also been progress in the talks Azeri natural gas deliveries to Israel. The moves follow pronouncements by Egyptian government officials that Egypt planned to review the natural gas agreements with Israel, which prompted the Israeli government to seek alternative suppliers.
Six weeks ago, a delegation of Gazprom officials visited Israel for talks on natural gas deliveries via the Turkish infrastructure corridor.
A delegation from the State Oil Company of the Azerbaijan Republic (SOCAR) is due to arrive in Israel in a few weeks to meet Ministry of National Infrastructure officials and executives from Israel Electric Corporation (IEC), Oil Refineries Ltd. (TASE:ORL), and other companies. Azerbaijan has some of the largest natural gas reserves in the world, and currently supplies 20% of Israel's oil needs.
Ben-Eliezer met with Azerbaijan President Ilham Aliyev during his recent visit to that country. He asked Aliyev to expedite the negotiations for natural gas deliveries to Israel.
Azerbaijan would probably export natural gas from the Shah Deniz gas field, which is jointly owned by SOCAR and BP plc (NYSE; LSE: BP). The second stage of the field is due to begin production in 2012.
Published by Globes [online], Israel business news - www.globes-online.com - on June 11, 2008
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