BICOM

The UK’s Minister of State for Trade and Investment, Lord Green, arrived in Israel yesterday at the head of a trade delegation, which will look to develop links in the energy industry between the two countries.

The delegation includes representatives of more than ten leading British companies in the crude oil and natural gas industries. Britain is considered to be among the world’s leading hubs in developing crude oil and natural gas. For its part, Israel is developing significant offshore natural gas reserves, with the large Tamar and Leviathan gas fields having been discovered during the last ten years.

During the visit, the UK delegation will meet with Israel’s outgoing Minister of Industry, Trade and Labour, Shalom Simhon, and some of the country’s top businesspeople and leaders in the energy sector. Lord Green and the rest of the delegation will also visit the Leviathan natural gas field itself during the trip. In addition, they will also meet with Palestinian officials and leading Palestinian business figures.

Trade relations between the UK and Israel have developed significantly over recent years. Trade between the two countries was worth more than £4 billion last year, while in excess of 250 Israeli companies have branches in the UK.