Reuters: Israel Will Be Modest Player in Europe

Israel is set to become a modest player on the European gas market, Israeli Energy Minister Uzi Landau has said in an interview.

Speaking to Reuters news agency, the minister said that it could become a reasonable supplier of gas to Europe, especially if it cooperates with Cyprus, a country which is now producing gas from the same area as Israel. The two countries share an exploration company, with Noble Energy Inc. holding interests in the Mari-B and Tamar fields in Israel, and in Block-12 in Cyprus.

However, the minister said, Israel would take care of its own supply needs before exporting to any other countries.

"My gut says we store as much gas as possible to meet Israel's interest, but there are economic and geopolitical advantages in export," he told the news agency."To export, you need a minimal amount (for domestic use), which will last 30 years, 40 years, which is a reasonable number in my eyes."