Israeli energy minister courting top foreign energy firms


(Israel Hayom/Exclusive to Israel is courting foreign investors ahead of a planned natural gas and oil explorations tender that the Energy Ministry plans to issue in November, Israel Hayom learned Wednesday.

Energy Minister Yuval Steinitz is currently visiting London, meeting with dozens of energy and financial services companies ahead of the tender. He is scheduled to continue on to Singapore next for a series of similar meetings.

Israeli Energy Minister Yuval Steinitz. Credit: Wikimedia Commons.

The ministry has mapped out a series of future exploration sites, which Steinitz is presenting to potential investors. The presentations also outline projected and expected timetables, competition and regulation guidelines, market reviews, and projected revenue for future gas and oil exploration in the Eastern Mediterranean.

Steinitz's presentations have reportedly garnered great interest, including from the international financial media. The energy minister has been able to snag the attention of dozens of the world's top energy firms, such as Woodside Petroleum, the Edison Energy Group, Santos, and the Indian Oil Corporation, to name a few.

"We have embarked on a dialogue with neighboring countries, and after years of delays and putting a uniform regulatory framework in place, things are moving forward," Steinitz said. "Israel is poised to become a key player in the regional gas industry."

The tender is expected to be finalized by the end of March 2017.

Posted on September 8, 2016 .