Friendly energy: Israel could turn gas supplier for India | business | Hindustan Times
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Friendly energy: Israel could turn gas supplier for India

business Updated: Feb 23, 2012 02:18 IST
Anupama Airy

Israel is all set to emerge as one of India’s reliable partners in the energy sector, especially when it comes to sourcing of natural gas, as a potential deal between the two countries is in the pipeline. According to government sources, a concrete agreement is expected to be signed soon.

Minister of energy and water resources of Israel Uzi Landau, during his two-day visit to New Delhi, told Hindustan Times that Israel is keen to strengthen its existing “friendly ties with India” through cooperation in the energy sector.

"Israel doesn’t, as of now, have any detailed policy on natural gas but there is a high level government committee which will shortly submit its recommendations over Israel policy on natural gas. We feel that for this gas, we should first approach our friendly nations like India."

Asked if the energy co-operation would also include the Israeli authorities offering equity stakes to Indian oil and gas companies in the two highly prospective gas fields, he said, “We will do so at the appropriate time.”

The two fields, Leviathan and Tamar in the offshore waters of Israel, are estimated to hold around 24 trillion cubic feet of gas. China has already evinced interest over picking up equity in the Tamar gas field project, slated to come into production by the end of this year.

While Landau reserved his comments over India’s huge dependence on Iranian oil, he said, “I don’t want to tell India anything about its foreign policy but surely sanctions against Iran should be stepped up and all nations should come together over the fight against terrorism.”

“Terrorism is a problem with India as well and all nations should unite to overcome this menace.”