Israel ready to increase oil import from Azerbaijan

A top Israeli energy official agreed Monday to increase oil imports from Azerbaijan using the new Baku-Tbilisi Ceyhan pipeline.

Israeli media reports Infrastructure Minister Binyamin Ben-Eliezer met with oil officials in Azerbaijan, where Israel gets nearly 20 percent of its supply.

The two sides are also looking at ways to further increase exports to Israel, as well as creating a port to feed East Asian markets.

The traders active the oil transportation markets told Trend Israel in the near perspective is not going to cut oil import and actively processes issues of diversification of the delivery of energy resources to the country.

According to ENI, as of 1 January 2006 Israels oil reserves made up 2 million barrels, which dropped 2 million barrels by 2004.

However, Israels demand in oil in Israel, as the company urges, made up 219,000 barrels a day in 2005 against 227,000 a day in 2004.

Israels demand in oil 1994-2005 is as follows:

Oil import by Israel (in ths. barrels a day)

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

211

227

220

229

226

233

251

232

238

245

227

219

Israels oil reserves (in mln barrels)

0

0

0

4

4

4

4

4

4

4

4

2

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