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Israel welcomes Indian investments in natural gas

According to reports, Israel on Thursday said it was keen to further strengthen its diplomatic and trade relations with India.

The visiting Israel minister of energy and water resources Uzi Landau told Business Standard: “Israel plans to attract investments in the gas sector, especially exploration and production. Israel has gas reserves of 122 trillion cubic feet, of which 20 per cent have already been found. We are in the midst of formulation of an action plan through several study groups. India can join hands with Israel in this regard and later Indian companies can bid in natural gas exploration and production.”

Landau, who met industry representatives here, said that Israel government was keen to export natural gas, and India can benefit from this move. At the same time, it would seek Indian expertise in the construction of LNG facility, which involves an investment of $8 billion.

On the investment possibilities in India’s renewable energy sector, Landau said that Israel companies have shown interest to share technological expertise and also make financial investments in this segment. “In Israel, our government is paying attention to the promotion of renewable energy that will be affordable. This is being achieved with new technologies, which India can deploy,” he said.

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