EastMed: prospects for new energy investments

Prospects for new energy investments in Israel and its neighborhood

9 July 2015, 4:30 - 8 PM CET

TUSIAD Avenue des Gaulois, 13, Brussels 1040

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 saber-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 change the economic fortunes of Israel and its neighbors?

Gas industry old hands urge caution, however. They well and truly realize 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 in 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:

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 the 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