Israel is said to be planning to buy liquefied natural gas from Qatar.
The move comes as Israel’s usual supply of LNG from Egypt has been disrupted for several months because of attacks on the Sinai pipeline.
According to Egyptian newspaper Youm7, Israel is in talks with the Qatari government and is building the infrastructure needed to accommodate LNG carriers and store the gas.
Attacks on the pipeline – which traditionally supplies about 40 per cent of Israel’s natural gas – have occurred regularly this year since the uprising that toppled Egyptian president Hosni Mubarak.
Israel’s increased need for alternative sources for LNG has also seen US firm Noble Energy’s profits soar. The company yesterday reported that its third quarter profits were up 90 per cent on a year earlier, from $232 million to $441 million.
Houston-based Noble discovered natural gas off Israel a year ago, making it well positioned to meet the country’s increased demands.