Israel could supply up to a fifth of Turkey's natural gas

The two countries are months away from a deal under which Turkey could receive up to a fifth of its natural gas from Israel by 2021.

Photo by: Anadolu Agency
Photo by: Anadolu Agency

This year's Atlantic Council Istanbul Summit is focused on energy, Europe's 'greyzones' and Syria.

Updated Apr 28, 2017

Israel believes it is close to a deal that could see it supplying up to a fifth of Turkey's natural gas needs.

Shaul Meridor, the director general at Israel's Ministry of National Infrastructures, Energy, and Water Resources of the State of Israel said: "We could have Israeli gas in Turkey in the next three to four years."

Meridor was speaking at the Atlantic Council's Energy and Economic Summit in Istanbul on Thursday.

He said he expected a deal for a natural gas pipeline from Israel's natural gas fields to Turkey to be signed within the next few months. Should it go through, Turkey could be receiving natural gas by 2020 or 2021.

"Up to a fifth of the Turkish market, but it is things that are in the details of negotiations. We'll know that once we've finished," he said.

Currently, Turkey gets its gas by pipelines from Russia and Azerbaijan.

Meridor said that if a deal was reached and the pipeline built, Turkey would have an increased diversity of supply at competitive prices.