“The natural gas pipeline established between Israel and Turkey may be a new option for Europe.”

The idea of ​​transporting gas produced in Reveresan, one of Israel’s major natural gas fields, to Turkey via a pipeline through the seabed and via Turkey to southwestern Europe has been around for years. It emerged before.

After meeting with Israeli President this month, President Recep Tayyip Erdogan said energy cooperation is one of the most important opportunities to develop bilateral relations.

“We can announce it next month.”

Turkish officials told Reuters that talks between the two countries have continued since Israeli President Isaac Herzog visited Ankara earlier this month, “concrete” on the gas pipeline route and the parties to the agreement. “Decision” was possible, he added. It will be announced in the coming months.

Meanwhile, energy sector officials have taken a more cautious stance, saying that the pipeline could fail due to factors and geopolitical issues that could limit production growth at the site. rice field.

Natural gas extracted from the Leviathan oil field is currently being shipped to Jordan and Egypt, as well as being consumed in Israel. New Med Energy and Ratio Oil of Chevron, Israel, which operates the field, aims to increase the annual production of the field from 12 billion cubic meters (bcm) to 21bcm.

Meanwhile, European Union (EU) countries imported 155 bcm of natural gas from Russia last year, which is about 40 percent of total consumption.

New Med, the operator of the Revere Sun oil field, has announced that most of its additional natural gas production will be liquefied and exported as LNG to Europe or Far East countries. NewMed’s manager said last month that natural gas could also be sent to Turkey, but to do so, Turkey had to “fund” the project and promise to build a pipeline.

The company that operates Leviathan Field did not answer questions regarding negotiations with Turkey.

Israeli energy minister Karine Elharrar told broadcaster Ynet on Sunday that many issues need to be discussed, including funding the pipeline.

Meanwhile, Turkey’s energy minister, Fatih Dönmez, said in a statement on March 12 that he would visit Israel next month.

Energy bridge

Now that European countries are more determined to diversify their energy sources after Russia’s invasion of Ukraine, it may be important for Turkey and Israel to work together in the energy sector to leave a long-standing diplomatic disagreement. unknown.

Another Turkish official said, “There was a recent reconciliation with Israel. We hope that natural gas will be shipped to Europe via Turkey. Israel is keen on this issue and some talks have taken place. I want to achieve this. “”

Turkey consumes an average of 50 bcm of natural gas annually, importing almost all of it through pipelines from Russia, Iran and Azerbaijan. Located in an area where energy policy can be hot, Turkey is geographically well-positioned as an energy transfer center.

“Turkey has received a great deal of attention in terms of both natural gas consumption and transportation routes to Southern European countries,” said a senior official in the Israeli natural gas sector.

Officials said there may be a problem with delivery to Turkey. This is because two routes have already been proposed for the delivery of additional natural gas from the planned increase in production at Leviathan.

Additional natural gas produced at Revere Sun is expected to be transferred to an existing natural gas liquefaction facility in Egypt or a planned floating LNG facility.

“If Turkey responds quickly, it could be a third option,” officials said.

According to Israeli authorities, the cost of the pipeline is estimated to be 500-550 km long and can reach 1.5 billion. In other words, a pipeline that can be built in Turkey could be more affordable than the € 6 billion EastMed pipeline designed to connect Israel with Cyprus, Greece and Italy.

On the other hand, pipelines that pass through the seabed must pass through either Cyprus or Syria. Turkey does not recognize the Greek Cyprus government, but has no diplomatic relations with Syria as it has supported rebels fighting the Syrian government in Damascus.

Gökhan Assist, managing partner of ADGAnadolu Doğalgaz Danışmanlık, who has been involved in the potential work of the pipeline for over 20 years, also considers this situation and if Turkey has a direct investment in the pipeline, the construction and financing of the pipeline. Problem in.