Economy of Israel

The CEO of Israel-focused gas producer Energean on Thursday called on governments to develop new export routes from Israel to neighboring Egypt and Cyprus.

Speaking to Reuters, Mathios Rigas alsourged Israel to issue new offshore oil and gas exploration licenses to meet rising demand in the region.

Türkiye ranked first among G20 countries in terms of services export growth in the second quarter of 2024, the Trade Ministry has said.

In the first six months of 2024, Türkiye's services exports increased by 9.5 percent from a year ago to reach $47.2 billion, according to a statement by the ministry.

Greek energy company Energean on Thursday announced an agreement to sell its portfolio in Egypt, Italy and Croatia to Carlyle International Energy Partners for a price of up to $945 million (880 million euros) and not less than $820 million (€763 million).

Energean informed the London and Tel Aviv stock exchanges on Thursday about its sixth natural gas field discovery in the Eastern Mediterranean, in Egypt.

The initial estimate is that the new discovery contains 87-129 billion cubic feet of natural gas and is scheduled to come into production during the third quarter of the year.

Energean on Thursday announced that the government of Israel had approved the first phase of a development plan for the Katlan gas field.

Energean said this field could be used for exports to neighboring countries if the Israeli government approved such licenses.

Turkey's energy watchdog estimates the consumption of 52.02 billion standard cubic meters (bcm) of natural gas in Turkey in 2020, according to an official gazette announcement on Jan. 29.

EMRA's natural gas consumption estimation was nearly 52.13 bcm for 2019 but the authority has not yet announced the actual consumption.

Boeing plane of the Israeli airline El Al landed at Sofia Airport. There is no evidence of injured passengers, NOVA reported.

The flight was from Sofia to Tel Aviv. It only took 41 minutes to return to Sofia Airport.

Cyprus's energy minister says the country will renegotiate the financial terms of its contract with a consortium on exploiting a gas field off its southern shore.

Georgios Lakkotrypis told reporters on Tuesday that the consortium made up of Texas-based Noble Energy, Israel's Delek and Royal Dutch Shell wants to renegotiate the contract on the Aphrodite gas field.

Ahead of Tuesday's trilateral summit between leaders of Greece, Israel and Cyprus in Nicosia, Israeli Prime Minister Benjamin Netanyahu said they will discuss the feasibility of constructing a gas pipeline leading to Italy.