ENI Eyes Transporting Israeli Gas to Cyprus

From Globes

Sources inform ”Globes” that that Italian energy giant ENI SpA (BIT: ENI; NYSE: E) wants to transport compressed Israeli gas to Cyprus. ENI executives told Minister Energy and Water Resources Silvan Shalom that the company wants to enter the Israeli market, belying reports that it was worried about jeopardizing its relations in the Arab world.

On Sunday, Shalom left for a four-day visit to Italy at the request of Prime Minister Benjamin Netanyahu, who could not make the trip because of regional security tensions. Shalom will meet Italian political leaders, following today’s meetings with energy executives.

The executives are following the upcoming High Court of Justice hearing on petitions against the government decision to allow gas exports, and they are interested in Israeli plans to export gas to neighbors, such as Turkey and Cyprus. Shalom said that Israel would export gas no matter what, even if the High Court of Justice rules in favor of the petitions.

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