Controversy leading to shaky relations in the oil and gas sector

Controversy leading to shaky relations in the oil and gas sector

Controversy leading to shaky relations in the oil and gas sector

/ News & Interviews / Tuesday, 12 February 2019 10:17

The French oil and gas group Total has attracted the wrath of Israel after considering it too complicated to invest, according to an article in Financial Times.

Patrick Pouyanné, CEO of total, considers it is too “complex” to invest in Israel despite the country's major gas fields, according to reports by the British daily. “We like complex situations [...] up to a point, let's be clear,” he continues.

“We will consider our reaction to this as it is totally unacceptable to boycott [Israel]”, said Israeli Energy Minister Yuval Steinitz, also quoted in the Financial Times.

Total didn’t wish to comment immediately.

Israel benefits from natural gas resources at sea, with Tamar gas field, exploited since 2013, and the important gas field of Leviathan.

Total has a very limited presence in Israel but is very active in several countries in the region.

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