Russia's Gazprom is planning to invest in Israel and acquire 50% of private Israeli company that holds licenses to offshore deposits, form a joint venture, and start exploration, reports "Interfax", citing Stanislav Tsygankov, head of the company's foreign economic operations.
Moscow-based Gazprom plans to begin the necessary studies and drilling by next year.
"Interfax" quotes First Deputy Prime Minister Viktor Zubkov as saying that the cooperation would not put an end to talks about supplying Russian gas to Israel.
According to foreign media reports, Gazprom will make the investment this year, after company officials held talks in recent months with various parties in Israel's energy market.
Published by Globes [online], Israel business news - www.globes-online.com - on November 18, 2010
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