Friday, March 3, 2017

Business in Brief: Pipeline for Gas to Turkey Could Be Ready in Four Years, Delek-Avner CEO Says - HAARETZ / REUTERS

TheMarker Mar 03, 2017 12:10 AM

Pipeline for gas to Turkey could be ready in four years, Delek-Avner CEO says
An underwater pipeline connecting Israel’s massive offshore natural gas field Leviathan to Turkey could be built within four years [TEKMOR note: special emphasis on 'could'], one of the partners in the project said Thursday. Israel has been pursuing several regional export deals for its newfound gas reserves and the Leviathan group is moving ahead with development plans since making its final $3.75 billion final investment decision last week.

Yossi Abu, CEO of Delek Drilling and Avner Oil, said a new 500-kilometer (310-mile) pipeline could have gas flowing to Turkey by the end of 2020, about a year after it comes online for the Israeli market. “This is the target,” he told reporters at a news briefing.

Additional export destinations being discussed are Egypt, Europe and the Palestinian territories, including power plants in the Gaza Strip and West Bank, Abu said. Delek and Avner shares both ended 0.5% higher at 13.07 shekels ($3.55) and 2.42 shekels, respectively. (Reuters)