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20.09.2013 09:59

SOCAR to build gas pipeline from Israel to Turkey

Turcas, a company owned by the State Oil Company of the Azerbaijan Republic (SOCAR), proposed construction of a gas pipeline from Israel to Turkey under the sea.
The initiative was offered to Turkey by Matthew Bryza, US ex-Ambassador to Azerbaijan and currently a high-ranking SOCAR official.
The project is worth $2.5 billion. Turcas plans to build a pipeline 470km long under the Mediterranean Sea from Port Mersin in Turkey. Bryza said that the pipeline could have a capacity of 16 billion cubic meters of gas.
Israel has recently discovered two major gas fields. One of them was named Taman. It is developed by NobleEnergy and has at least 240 billion cubic meters of gas 5,000m deep. The other one was named Leviathan, located on the maritime border of Lebanon. It has about 450 billion cubic meters of gas. Delek, Isramco and Dor Alon have already invested over 2.8 billion in the project.

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