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September 8, 2016 1:15 pm

Israel Courting Top Foreign Energy Firms Abroad

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Israeli Energy Minister Yuval Steinitz. Photo: Wikipedia.

Israeli Energy Minister Yuval Steinitz. Photo: Wikipedia. – Israel’s Ministry of Energy is courting foreign investors ahead of a natural gas and oil explorations tender planned for November, Israel Hayom reported Wednesday.

According to the report, Energy Minister Yuval Steinitz is currently visiting London, speaking with dozens of energy and financial services companies, and he is scheduled to continue on to Singapore for a similar series of meetings.

Steinitz’s presentation includes an outline of future exploration sites, timetable projections, competition and regulation guidelines, market reviews and projected revenue for gas and oil exploration in the eastern Mediterranean Sea.

Reportedly, the minister has garnered great interest from investors and the international financial media. Steinitz has snagged the attention of some of the world’s top energy firms, including Woodside Petroleum, the Edison Energy Group, Santos and the Indian Oil Corporation.

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“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 was quoted as saying in the report. “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.

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