Gazprom, Delek in Israeli NGV deal

Russian giant Gazprom signed a memorandum of understanding with Delek Drilling to jointly examine the possibilities of using natural gas as a fuel for vehicles in Israel. 

The two companies plan on looking into the possibilities of using natural gas as fuel in road, rail and water transport and special agricultural, material-handling and other equipment) in Israel.

The memorandum relates to the memorandum of understanding inked on June 7, 2016, between the Russian ministry of energy and the ministry of national infrastructure, energy and water resources of Israel that provided for the establishment of a joint working group.

Gazprom’s deputy chairman Alexander Medvedev said that the use of natural gas as a fuel for vehicles contributes to a “sustainable and ecologically responsible development of the economy.”

The cooperation with Gazprom “will contribute to further development of the Israeli natural gas market in general, and in particular for natural gas based transportation,” said Yossi Abu, Delek Drilling CEO.