TODAY.AZ / Business

Israel gets ready for oil shortage; hopes for Azerbaijan

23 January 2007 [17:06] - TODAY.AZ
Israel needs to prepare for upcoming world energy shortages, Infrastructure Minister Binyamin Ben Eliezer told the Herzliya Conference Tuesday.

Within 40 years, he said, the world will begin to run out of oil, and prices will start to creep up within the next several decades.

He said that the State was already working to stave off the shortages and examining alternatives to oil, such as natural gas.

Several deals are in the works for an increased supply of natural gas to Israel, especially from Turkey and Azerbaijan.



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