Led by Alexey Miller, Chairman of Gazprom’s Management Committee Gazprom’s delegation has paid a working visit to the State of Israel.

Within the visit Alexey Miller met with Ehud Olmert, Israel’s Acting Prime Minister. In addition, Gazprom’s delegation held talks with Ronnie Bar-On, Israel’s Minister of National Infrastructures.

The parties paid special attention to Russian gas supply options as well as cooperation in gas marketing to Israel, in power generation issues inclusive.

The Israeli side informed Gazprom’s delegation of Israel’s energy market development prospects. Israel has plans to create a network of gas mains and low pressure distribution systems as well as to erect a considerable number of gas-driven power plants, underground gas storage facilities and refining & processing infrastructure.

The parties will keep on discussing the prospects for cooperation.

Reference:

The share of oil, coal and natural gas in the Israeli energy balance accounts for some 67%, 30% and less than 1%, respectively. Israel doesn’t have any substantial hydrocarbon reserves. The country’s proved natural gas reserves are valued at 47 bcm, with gas production averaging 800 mln cu m per annum.

The anticipated natural gas demand growth is driven primarily by Israel’s power generation development prospects. According to the Israeli Government’s projections, the country’s natural gas needs will average 8 bcm by 2010.