Turkey, Israel to Finalize Deal on Pipeline before Year’s End?

Turkey and Israel are seemingly set to finalize the deal on a pipeline that will connect the two countries before the end of the current year, during an official visit to Tel Aviv by Turkish Energy Minister Berat Albayrak.

The Turkish official’s visit to Israel was announced by Israeli Energy Minister Yuval Steinitz, on the sidelines of the 22nd World Petroleum Congress, held in Istanbul July 9-13.

“Hopefully, Mr Albayrak will pay a visit to Israel this year in 2017, which will help us accelerate and try to conclude this agreement,” the Israeli Energy Minister was quoted by the Middle East Observer, as saying, after a meeting with his Turkish counterpart.

The pipeline will enable to export natural gas from Israel to Turkey, and to the rest of Europe, the Israeli official said.

Turkey, which largely depends on foreign supplies for its energy needs, is keen to diversify resources and has a close eye on Israel’s own developing resources, notes the Middle East Observer.

The World Petroleum Congress that brought together consumers and producers, governments and industry, academia and financiers, leaders and society, focused on four major topics. These are Exploration and Production of Oil and Gas; Refining, Transportation and Petrochemistry; Natural Gas Processing, Transportation and Markets; and Sustainable Management of the Industry.