Israeli Economy
Israel boosting natural gas production for Europe – report

Israel is increasing its natural gas production in the hopes of clinching an agreement to supply Europe, Reuters reported on Monday.

The report comes amid the backdrop of Europe reducing its reliance on Russia for energy. Crude oil prices have risen since Europe proposed banning Russian oil imports. Before Russia’s invasion of Ukraine at the end of February, Europe relied on Russia for about 25 percent of its oil needs.

As Europe moves to diversify its energy sources, Turkey has been courting Israeli cooperation to deliver gas to the continent.

Photo: Flash90

# Israeli Economy # European Union
Stephen Gallichan 18:35 17.05.2022
Excellent but nothing has been said on European TV so Israel need to tell European media and Energy ministers so we can replace Russian gas with Israeli gas. Excellent news.
Vaughn Groen 18:13 17.05.2022
Sounds like a good idea.
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