Israel on Thursday said it was keen to further strengthen its diplomatic and trade relations with India.
The visiting Israel minister of energy and water resources Uzi Landau told Business Standard: “Israel plans to attract investments in the gas sector, especially exploration and production. Israel has gas reserves of 122 trillion cubic feet, of which 20 per cent have already been found. We are in the midst of formulation of an action plan through several study groups. India can join hands with Israel in this regard and later Indian companies can bid in natural gas exploration and production.”
Landau, who met industry representatives here, said that Israel government was keen to export natural gas, and India can benefit from this move. At the same time, it would seek Indian expertise in the construction of LNG facility, which involves an investment of $8 billion.
Moreover, Israel minister said that his government was making huge investments in water sector, especially purification, desalination, reuse of waste water for drinking and agriculture purposes. “Water is quite scarce and therefore Israel has launched major investments in this sector. Our companies have developed desalination technologies and waste water management technologies at the cheaper level and they are keen to invest in India,” he said.
On the investment possibilities in India’s renewable energy sector, Landau said that Israel companies have shown interest to share technological expertise and also make financial investments in this segment. “In Israel, our government is paying attention to the promotion of renewable energy that will be affordable. This is being achieved with new technologies, which India can deploy,” he said.
On the conclusion of current negotiations between India and Israel on free trade agreement, the minister said he hoped the deal would be in place by the end of the year.
