"We are in contact with the Cypriot government regarding an electricity cable connecting our grid with their grid so that in the end Cyprus will have a power station backing us up if needed," Minister of National Infrastructures Dr. Uzi Landau told the "Globes" Israel Business Conference today. He added, "At the same time, we will back up the Cypriot infrastructure."
Landau was speaking on the panel entitled "Energy Sources: High Tension," which discussed the price of energy and its influence on the global economy as well as Israel's place in the international energy market following the discovery of its offshore gas fields.
Landau said, "We want to create a situation so that by 2020 our electricity grid will have a 20% surplus. Such a surplus would be a safety net, prevent power outages and enable us to sell electricity to our neighbors."
Regarding natural gas he said, "This is one of four main markets that can lead Israel's economy and put it on the right road. We are seeing the massive entry of gas into the field of electricity production. Today, 40% of Israel's electricity is produced from gas. We have invested a billion dollars in it and still saved money."
Landau continued, "We are working so that there will be not just one pipeline for the gas that will flow but at least three pipelines in the near future. We are also talking about other developments that will allow export of gas even if there is sabotage as is happening in Egypt, or a natural disaster such as an earthquake.
Speaking about water, Landau said that the rate of desalination will rise in the coming years. "Israel already uses 6% of its energy consumption to desalinate water and this will reach 9% by 2020. The aim is to strike a balance in both sectors - electricity and water.
Published by Globes, Israel business news - www.globes-online.com - on December 12, 2011
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