ISRAEL TO COOPERATE WITH TURKISH COMPANIES TO MARKET ITS GAS

From DAILY SABAH

By Mehmet Nayir

ANKARA — The number of unexpected applicants for gas diplomacy in the eastern Mediterranean is rising at an accelerated pace after Israel apologized to Turkey and agreed to pay compensation for the 2010 Mavi Marmara incident and a new resolution process was initiated in Cyprus between Turkish and Greek Cyprus.

Following Israel’s request for offers from prominent energy companies such as Çalık Holding, Turcas and Enka, Sabancı Holding also joined in the tender. Turcas announced it entered into a partnership with Sabancı Holding and EnerjiSA, part of giant German energy company E-on, for the transportation and distribution of eastern Mediterranean natural gas.

Transport of the natural gas in Israel’s Tamar and Leviathan areas through pipelines is planned for the first stage. In the medium term, the addition of Cypriot gas to the route, which is the most plausible option to move the gas, is also planned. The consortium envisages that nearly 8 to 10 billion cubic meters of gas will be transported to Turkey annually through the yet-to-be built pipeline. Negotiations with companies began for the price and consumption of the gas. The cost of the pipeline is estimated to be about $1.5-2 billion (TL 3-4 billion).

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