Peres visits Cyprus to discuss natural gas

Shimon Peres's entourage includes executives from Delek Group.

President Shimon Peres is on a state visit to Cyprus to discuss the Leviathan natural gas discovery and Turkish threats in the region. Peres was welcomed by Cypriot Foreign Minister Dr Erato Kozakou-Marcoullis and he will later meet Cyprus's President Demetris Christofias.

The 16 trillion cubic-foot Leviathan discovery in Israel's maritime exclusive economic zone is close to the border with Cyprus's exclusive economic zone and the Block 12 concession, which may yet prove to be almost as large as Leviathan.

Peres and Christofias will sign four bilateral agreements.

Peres is making a reciprocal visit, after Christofias visited Israel in March.

Peres's entourage includes executives from Delek Group Ltd. (TASE: DLEKG), a partner in Leviathan, which has an option to buy a stake in Block 12.

Published by Globes [online], Israel business news - - on November 3, 2011

© Copyright of Globes Publisher Itonut (1983) Ltd. 2011

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