Israel’s royalties from the production of natural gas came to $798b in 2016, according to Energy Minister, Yuval Steinitz, Israel Hayom informed.
In addition, Steinitz said that Israel was advancing the construction of a gas pipeline to Turkey and at the same time constructing a pipeline to Italy, Greece, and Cyprus, Times of Israel reported. Early February, a delegation from the Turkish Energy Ministry was expected to visit Israel for talks about the joint gas pipeline.
This will be the third meeting between Israeli and Turkish energy officials on the matter, and Steinitz described it as a sign of seriousness about promoting the joint project.
Furthermore, Steinitz affirmed meetings with European countries have also been planned. “In several weeks I am planning to meet the Italian Energy Minister and to discuss with him the Israel-Italy gas pipeline,” he said, confirming the country’s efforts to export gas surplus to Europe as well as within the region.
About 60% of Israel’s energy comes from gas and the remaining from coal, Steinitz said, adding that the goal is in a few years to rely on gas for 90% of the country’s needs and 10% from coal.