'Greece and Israel discuss cooperation on natural gas'

Greek Investment Minister says his country may become a "transportation hub and services center" for gas found in Leviathan field.

January 24, 2011 16:48
1 minute read.
Offshore Leviathan gas field.

leviathan gas drill. (photo credit: (Albatross))

Greece has begun talks with Israel about transporting natural gas to Europe, Greek Investment Minister Harris Pamboukis told Reuters on Monday.

"The Israelis have found big quantities of offshore gas in the Mediterranean," Pamboukis explained. "We are trying to see how Greece could be seen as a transportation hub and a services center, since it is on a natural road to the Balkans and Europe."

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Pamboukis emphasized that these are only exploratory talks, initiated after natural gas was discovered in the Leviathan field, Reuters reported.

He added that he had been appointed the Greek coordinator for relations with Israel.

Exploratory drilling by the companies investing in Leviathan - Delek Energy, Razio, Isramco and Noble Energy - began in early January. Leviathan is the largest natural gas find in Israel's history, with an estimated 16 trillion cubic meters of gas.

Relations between Israel and Greece warmed in the past year, with Prime Minister Binyamin Netanyahu paying the first visit to the country by an Israeli prime minister in August, a month after his Greek counterpart George Papandreou came to Israel.

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