Energy: Noble considers pipeline from Israel to Turkey

15 April, 13:19

    (ANSAmed) - ISTANBUL, APRIL 15 - US energy firm Noble Energy has stated that the company has already started to work on possibilities to launch an energy project between Turkey and Israel, regional powers who have recently normalized their ties, as Today's Zaman reported. The Texas-based Noble Energy owns 36% share of the natural gas discovered in the Tamar field off Israel's Mediterranean shores in 2009. Company CEO Charles Davidson has said that the possibilities are being elaborated by the company to pipe the newly discovered Israeli gas to Turkey. "We are targeting two-fold growth in the upcoming five years. We are planning to double our production as well as our reserves and cash flow," Davidson said during a trip to Israel, while commenting on the company's outlook. Prior to his visit to Israel, Davidson traveled to teh Republic of Cyprus and said the company prefers first to liquefy the natural gas in plants on the island and then export it as liquefied natural gas (LNG). The Cyprus' government stated in late March that they are seeking financial support to build energy infrastructure such as the facilities to convert the gas into LNG. Israel has suggested that Nicosia build such a plant to process both Cypriot and Israeli natural gas, the latter of which has been discovered in even bigger quantities in nearby waters. Cyprus reported its first natural gas discovery in December, when Noble Energy said it had discovered an estimated 5 to 8 trillion cubic feet in a block south of the island. Davidson said that the discovered gas reserves go beyond the needs of both Israel and Cyprus and estimated that initial drilling, scheduled to begin in June, will last 75-90 days. He also said that economic difficulties in Cyprus have not hurt gas operations on the island, and if anything, have even accelerated them. Cyprus signed a deal with Noble Energy in 2008 offering the US-based firm a right to explore the offshore block. (ANSAmed).

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