Italy turns to Israel to free itself from Russian gas

Israeli Prime Minister Benjamin Netanyahu announced at a forum in Rome that Israel wants to strengthen its gas cooperation with Italy. This statement is part of Italy's drive to reduce its dependence on Russian gas and move towards more sustainable energy sources.

Share:

Israeli Prime Minister Benjamin Netanyahu told a forum with Italian business leaders in Rome that his country wants to develop gas cooperation with Italy. Israel is planning a new liquefied natural gas (LNG) terminal in Cyprus to increase gas export capacity to Italy and Europe. This statement was welcomed by the Italian Minister of Enterprise, Adolfo Urso, who stressed the need for Italy to win the challenge of energy autonomy.

A strategic need in Italy and Europe

Since the war in Ukraine, Italy, like other European countries, has multiplied its initiatives to get out of its dependence on Russian gas. Israel has become a gas producer and exporter thanks to the discovery of several gas reservoirs off its coast in the Mediterranean. However, the lack of a pipeline to connect Israeli drilling platforms to southern European markets poses a major problem for the Hebrew state.

Alternatives for bringing Israeli gas to Europe

The EastMed project, which involves the construction of a largely undersea gas pipeline of nearly 1,900 km, is one of the options being considered to bring Israeli gas to Europe. This pipeline would connect Israel’s offshore gas fields with southern Europe via Cyprus and Greece. The gas would then be transported to Otranto, in southern Italy, via the Poseidon pipeline. However, this project is expensive and is not expected to be completed and in service until 2025-2027.

Enhanced cooperation between Israel and Italy

Benjamin Netanyahu mentioned the option of creating a new liquefied natural gas terminal in Cyprus to increase Israel’s gas export capacity to Italy and Europe. The Israeli Prime Minister stressed that there is a strategic need in Italy and Europe for gas and that Israel is ready to do more in this regard. This statement was welcomed by his Italian counterpart, who said that Italy aims to become the European gas hub and that Israel must be the point of strength for gas production.

  • Populaires ​
Q ENERGY raises €109 million from BPCE Energeco for renewable projects
HyperStrong and Repono launch 1.4 GWh of energy storage in Europe by 2027
Badenova invests $4.64 billion to transform its energy infrastructure by 2050
Geothermal investment jumps 85% driven by new technologies
NANO Nuclear signs strategic agreement with UrAmerica on Argentine uranium
VMOS secures USD 2 billion to finance its flagship Vaca Muerta project
VMOS signs a USD 2 billion loan to finance the construction of the Vaca Muerta South pipeline, aiming to boost Argentina's energy production while reducing costly natural gas imports.
Argentina forecasts 180 Mmcd to become regional supplier and major LNG exporter
According to a Wood Mackenzie report, Argentina could achieve daily gas production of 180 million cubic metres per day by 2040, aiming to become a key regional supplier and a significant exporter of liquefied natural gas.
Côte d’Ivoire and Eni strengthen their energy partnership with the Baleine project
Côte d'Ivoire and the Italian group Eni assess progress on the Baleine energy project, whose third phase plans a daily production of 150,000 barrels of oil and 200 million cubic feet of gas for the Ivorian domestic market.
Heatwave in China: Electricity Demand Surges, LNG Imports Slow
The extreme heatwave in China has led to a dramatic rise in electricity consumption, while Asia records a significant drop in liquefied natural gas imports amid a tight global energy context.
E.ON expands energy automation with a cogeneration plant in Neuss
E.ON, together with MM Neuss, commissions Europe’s first fully automated cogeneration plant, capable of achieving a 91 % fuel-use rate and cutting CO₂ emissions by 22 000 t a year.
Argentina restricts industrial gas amid historic cold snap
Facing the lowest temperatures recorded in 30 years, the Argentine government announces reductions in natural gas supply to industries to meet the exceptional rise in residential energy demand across the country.
Strong Rise in Solar Power Reduces Summer Demand for Natural Gas
Solar power generation increased sharply in the United States in June, significantly reducing natural gas consumption in the power sector, despite relatively stable overall electricity demand.
Exxon and QatarEnergy ask US for permission to re-export LNG from October
Golden Pass LNG, jointly owned by Exxon Mobil and QatarEnergy, has asked US authorities for permission to re-export liquefied natural gas starting October 1, anticipating the imminent launch of its operations in Texas.
Delfin Midstream secures strategic agreement with Siemens Energy and Samsung
Delfin Midstream reserves gas turbine manufacturing capacity with Siemens Energy and initiates an early works programme with Samsung Heavy Industries, ahead of its anticipated final investment decision in the autumn.
DNO secures USD 500 million financing linked to Norwegian gas
Norwegian group DNO ASA signs gas offtake contract with ENGIE and secures USD 500 million financing from a major US bank to guarantee future revenues from its Norwegian gas production.
Golar LNG raises $575mn through bond issuance and repurchases shares
Golar LNG Limited has completed a private placement of $575mn in convertible bonds due in 2030, using part of the proceeds to repurchase and cancel 2.5 million of its own common shares, thus reducing its share capital.
Shell ships first LNG cargo from its LNG Canada facility
Shell Canada Energy announces shipment of the first liquefied natural gas cargo from its LNG Canada complex, located in Kitimat, British Columbia, primarily targeting fast-growing Asian economic and energy markets.
Australia considers east coast gas reservation as market pressures intensify
The Australian government is considering the establishment of an east coast gas reservation as part of a sweeping review of market rules to ensure supply, with risks of shortages signalled by 2028.
The drilling fluids industry will reach $10.7bn by 2032 driven by oil expansion and chemical innovations
The increase in oil drilling, deepwater exploration, and chemical advances are expected to raise the global drilling fluids market to $10.7bn by 2032, according to Meticulous Research.
Enbridge Gas Ohio challenges tariff ruling cutting its revenues by $30mn
Enbridge Gas Ohio is assessing its legal options following the Ohio regulator's decision to cut its revenues, citing potential threats to investment and future customer costs.
Global small-scale LNG market to reach $31.78bn by 2030
The small-scale liquefied natural gas market is forecast to grow at an annual rate of 7.5%, reaching an estimated total value of $31.78bn by 2030, driven particularly by maritime and heavy-duty road transport sectors.
Europe extends gas storage obligations until 2027
The European Union extends gas storage regulations by two years, requiring member states to maintain a minimum fill rate of 90% to ensure energy security and economic stability amid market uncertainties.
Chevron and Energy Transfer Expand Their LNG Agreement at Lake Charles
Energy Transfer strengthens its partnership with Chevron by increasing their liquefied natural gas supply agreement by 50% from the upcoming Lake Charles LNG export terminal, strategically aiming for long-term supply security.
Woodside completes sale of 40% stake in Louisiana LNG project to Stonepeak
Woodside finalises the divestment of a 40% stake in the Louisiana LNG project to Stonepeak, injecting $5.7 billion to accelerate developments and optimise financial returns ahead of first gas delivery scheduled in 2026.
Keranic takes over Royal Helium and fast-tracks Steveville plant restart
Keranic Industrial Gas seals a sixty-day exclusivity deal to buy Royal Helium’s key assets, raise CAD9.5mn ($7.0mn) and bring Alberta’s Steveville plant back online in under fifteen weeks.

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

© XMARKET PUBLISHING

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS