An Israeli gas platform is seen in the Mediterranean Sea, some 15 miles (24 km) west of the port city of Ashdod, Feb. 25, 2013. REUTERS/AMIR COHEN
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It was the highest level contact between Israel and Turkey since diplomatic relations broke down six years ago after Israeli forces raided a Turkish ship bound for Gaza, killing 10 Turkish activists.To exploit them Israel will likely require the cooperation of Turkey.Israel and Cyprus, which have increasingly close ties, sit on an estimated 3,450 billion cubic meters of gas buried in the Levant Basin, according to a U.S. Geological Survey carried out late last decade.A recent seismological survey conducted by a French consultancy suggested Israel alone may be sitting on nearly three times as much gas as first thought, according to Steinitz.Instead, Turkey and Egypt, with 80 million and 93 million people respectively, would be a far better fit as potential long-term consumers.An initial plan was to send some of the gas to Egypt, which already has small contracts to buy gas from Israel. In 2015, Turkey trimmed its imports of Russian gas by 300 million cubic meters to around 27 billion cubic meters a year, to the annoyance of Moscow.Yet Turkey's rapidly growing economy still consumes 50 bcm of gas a year and demand is set to double over the next seven or eight years, analysts say.
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