"The secret of success is to know something nobody else knows"

Aristotle Onassis

Meeting: July 9, 2015: Assessing the frontiers of East Mediterranean gas: prospects for new energy investments in Israel and its neighbourhood

This interactive discussion of the Brussels Energy Club addressed the topic of:

"Assessing the frontiers of East Mediterranean gas: prospects for new energy investments in Israel and its neighbourhood"

 

And took place on Thursday 9 July, 4.30 — 8pm @ TUSIAD Avenue des Gaulois, 13, Brussels 1040

 

With special guest speaker:

Joseph I. ParitzkyJoseph I. Paritzky

 

Former Minister of Energy & National Infrastructure of Israel

Member of the Israeli Knesset 1999-2006

 

 

 

Background 

Many of us in the energy business currently look at the East Mediterranean as a new and thus far untapped frontier for the development of significant natural gas projects. There also appears to be substantial scope here to further shore up our efforts to diversify the source of supply. But while political sabre rattling has hampered efforts to develop natural gas finds in Cypriot waters, Israel's gas star has been rising noticeably, particularly since Noble Energy's discovery of the Leviathan resource base in 2010. Israel's subsequent entry into the East Med gas game has lifted our energy security expectations. Noble proclaimed Leviathan to be the world's largest deep-water gas discovery in ten years. Could this find do something for Europe's energy security, as well as dramatically changing the economic fortunes of Israel and its neighbours?

Gas industry old hands urge caution, however. They well and truly realise that much work needs to be done and many tough decisions often need to be made if such behemoth finds are to eventuate in the much hoped for El Dorado. Indeed, the challenge of developing such exciting finds is that the "above ground risks" involved often outweigh the benefits accrued from investing into bringing resources to markets. Israel today may indeed be standing on the verge of becoming a significant energy producer in the East Mediterranean. The jury is still out, however, on whether the country's gas projects will fly. And in order to see if they actually will, and in which direction the molecules will flow, we invited Israel's former Energy Minister, Joseph Paritzky, to enlighten us on July 9 at the Brussels Energy Club.

 

 

Program July 9, 2015: 16.30 — 20.00:

  • Arrival of members and guests leading into welcome cocktail   
  • Welcoming remarks by Dr Bahadir Kaleagasi, Chairman, Brussels Energy Club
  • Setting out the debate by Dr Marat Terterov, Executive Director, Brussels Energy Club
  • Presentation by Joseph I. Paritzky, former-Minister of Energy and National Infrastructure of Israel
  • Reflections and remarks by members and guests of the Brussels Energy Club, leading into Q/A session (NB: all discussions during the session will take place under the Chatham House Rule).
  • Buffet supper reception and networking opportunities with the speaker

 

Speaker information

A former Israeli Minister of Energy & National Infrastructure, Joseph I. Paritzky has had a long and distinguished career in law and energy, spanning both the private and public sectors. Reaching the bar in both New York and Israel in the mid-1980s, he was elected to become a member of the 15th Israeli Knesset (Parliament) in 1999. He was re-elected to become a member of the 16th Knesset in 2003, when he also become a member of Prime Minister Ariel Sharon"s government, holding the position of Minister of Energy and National Infrastructure (in charge of Energy and Water).

Paritzky was instrumental in developing the natural gas system of Israel and the East Mediterranean more broadly, as well as advancing dramatic reforms in electricity, water, and infrastructure. He initiated the idea of an "Infrastructure Undersea Tunnel" linking Israel and Turkey, and gave licenses to the first private power stations in the state of Israel. He also served as the representative of the Israeli parliament to the NATO Parliamentary Assembly. In 2006 he retired from government and since that time has been working in private investment and business development with a special focus on the gas industry of the region.

 

Further information

Participation in the interactive discussion at TUSIAD venue is free of charge for members and guests of the Brussels Energy Club. For more information please contact Martin Minarik on industry@brusselsenergyclub.org and/or Ben McPherson on research@brusselsenergyclub.org, or visit the contacts section of our website. 

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