Leviathan gas field
Turkey will not allow any unilateral hydrocarbon drilling or exploration in the Eastern Mediterranean Sea, Turkey's Energy Minister said on Sept. 20.
Royal Dutch Shell Plc is looking to bring natural gas from Israel and Cyprus to market, a step that could help turn the Mediterranean region into a major gas-producing hub.
According to sources, Shell is in talks to buy natural gas from Israel’s Leviathan field and combine it with output from Cyprus’ Aphrodite field – in which has a 35% stake – and pump it to an LNG plant in Egypt.
"We could have Israeli gas in Turkey in the next three to four years," said Shaul Meridor, the Israeli Energy Ministry's director general, at the eighth annual Atlantic Council Istanbul Summit.
An Israeli company said on March 2 it has started exporting gas from an offshore field to Jordan, marking the country's first ever exports of natural gas.
The exports to Jordan began in January, Delek Drilling -- part of a consortium leading the development of Israel's offshore gas reserves -- told AFP.
"Conflicts can only be solved when they are still hot," Henry Kissinger once famously said. But Cyprus seems to overrule this quote since the 50-years old question seems to be defrosting at last.
Energy cooperation has been a major force driving Turkish-Israeli reconciliation.
Israel's Leviathan gas field, the country's largest natural gas reservoir, was discovered in 2010 and is believed to hold 621 billion cubic meters of gas.
If a deal is concluded, an estimated 10 billion cubic meters of gas will be exported to Turkey each year.