Edison interested in Israeli gas fields

Karish and Tanin; awaiting new gov't policy

01 September, 19:52

    (ANSAmed) - MILAN, SEPTEMBER 1 - Edison is interested in acquiring two natural gas fields in the Israeli offshore: Karish and Tanin, but ''not at any price'', Bloomberg was told by Edison's representative in Tel Aviv, Yarom Ariav. The manager said that, after the important Egyptian offshore field by Eni, it had become more urgent that Israel finalizes its gas policy in order for the country to benefit. Ariav said that the discovery showed that there is a large amount of natural gas in the eastern Mediterranean, Israel included, and that the conditions needed to be created to support continued exploration and production. Israel has yet to approve its natural gas policy, which would open the way to exports and call on the owners of the two fields - Noble and Delek - to sell their shares. The vote initially planned for Wednesday was reschduled after the Egyptian discovery, Bloomberg noted. Ariav, previously general director of the Israeli finance ministry, said that EDF's Edison subsidiary was waiting for the Israeli government to provide incentives for the development of small natural gas fields for local consumption, ensuring for example the presence of buyers, permitting the use of shared facilities and with new taxation and royalties for small producers. Karish and Tanin have a potential of 60 billion cubic meters of gas, according to the estimates provided in July by Noble and Delek. The field discovered in Egypt by Eni is worth 850 billion. (ANSAmed).

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