Israeli Firm Plans Gas Pipelines to Turkey, other Mideast Nations

An Israeli energy company has announced plans to export natural gas via pipelines through Turkey and other countries in the Middle East.

The Delek Group, the parent firm for several energy and gas exploration companies, said in its new prospectus that it plans to export some of the newly discovered natural gas off the Mediterranean cost to Europe via pipelines to Jordan, Turkey, Egypt and the Palestinian Authority, the Israeli business daily Globes reported.

Delek Group is in advanced talks with companies in those countries about buying Israeli gas and building pipelines. The group also has talked about building a liquefied natural gas facility in Israel.

The Israeli Cabinet in June approved a decision to export about 40 percent of the recently discovered reserves while keeping a 25-year supply for the country’s consumption. Revenue from the exported gas is expected to be about $60 billion.