Israel, Russia to collaborate on dental nuclear imaging

Israel and Russia will collaborate on nuclear imaging and the development of radioactive materials for dental treatments, under a memorandum of understanding signed in Moscow during Minister of Foreign Affairs Avigdor Liberman's last trip there. The Israel Atomic Energy Commission and Rosatom Federal Agency on Atomic Energy will establish working relations to implement the agreement.

Although the agreement is limited to medical treatments, it could form the basis for wider collaboration for ventures in nuclear energy. There have been media reports that Israel is interested in building a nuclear power station and that it has been in contact with US President Barack Obama on the matter.

The nuclear imaging agreement is one of several agreements signed during the 11th meeting of the Israel-Russia Involvement Committee, chaired by Liberman and Russian Deputy Prime Minister Arkady Dvorkovich. The agreements, which have received extensive media coverage in Russia, including by Interfax, have not had much coverage by the Israeli media. However, energy sources see the agreements as an opening for a strategic change in Russia's position in Israel's energy market.

"I attach great importance to adding nuclear energy collaboration to the agreement, which can be expanded in the future," Eco Energy Ltd. CEO Dr. Amit Mor told "Globes".

On Christmas Eve, Russia's Soyuz Holding announced that it would acquire Syrian offshore oil and gas exploration licenses for $90 million. This is the first time that a Russian energy exploration company has entered the Levant Basin, which includes the Israeli and Cypriot natural gas discoveries. Gazprom JSC (RTS: GAZP; LSE: GAZD; DAX: GAZ) also recently said that it was interested in buying liquefied natural gas (LNG) from Israel's Tamar gas field, under a memorandum of understanding signed over a year ago.

"Russia is a key natural gas supplier to Europe and a rising supplier to China and other East Asian countries. In terms of policy, natural gas exports to Turkey and Europe, if they materialize in the future, might be made as part of an understanding with the Russian government," said Mor.

Published by Globes [online], Israel business news - www.globes-online.com - on January 1, 2014