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EU keen to tap into Israel's gas supply via Trans Adriatic Pipeline

Highlights

The European Union, which is trying to reduce its dependence on Russiafor gas and diversify its supply sources, is eyeing Israel as a likelyalternative and has proposed linking it to the Trans-Adriatic Pipeline,Israeli industry sources said Monday.

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Valeria Termini, vice president of the Council of European EnergyRegulators, has held talks with senior Israeli Energy and Water Ministryofficials on the proposal, the sources added.

The proposal would enable Israel to join the European pipeline network,eliminating the need to build a costly LNG facility. An LNG terminal isestimated to cost between $7 billion to $10 billion while a pipeline to theEuropean network can be built for $2 billion-$3 billion.

Israel's decision depends on whether the government approves gasexports. A decision is due to be taken in the coming weeks as the governmentcontinues to grapple with divergent views on the issue.

Minister for Energy and Water Silvan Shalom has recommended that Israelset aside 530 billion cubic meters to 540 Bcm of gas for the domestic marketthrough 2040. That will reduce the amount available for export to around360-400 Bcm. In August last year, a government-appointed committeerecommended that 500 Bcm be approved for export market through 2040.

--Neal Sandler, newsdesk@platts.com

--Edited by E Shailaja Nair, shailaja.nair@platts.com

Similar stories appear in International Gas Report See more information at http://www.platts.com/Products/internationalgasreport