Ankara announced the severance of energy ties with Israel, without having had time to properly establish them

According to Bloomberg, Turkey is halting all energy agreements with Israel and canceling all official visits due to new IDF attacks against the Gaza Strip.

As informed sources explained to Turan, this loud statement by the Turkish leadership actually means — "the project (!) for the construction of a gas pipeline from Israel to Turkey frozen in September 2023 (Ankara's response to Israel's July offensive in the Gaza Strip) and it will remain frozen."

Recall that the spring warming of Turkish-Israeli relations after Erdogan's re-election had to be consolidated, among other things, by the project of an underwater pipeline with an annual capacity of 10 billion cubic meters of gas and a cost of $2.2 billion in order for Israel to gain access to the EU market through Turkey.

The pipeline was supposed to affect Israel's largest Mediterranean natural gas field, Leviathan, from which part of the gas would be sent to Turkey and then to the countries of southern Europe.

Ankara has been interested in this project for many years, but Israel feared that this step could harm its relations with Turkey's neighbors — Cyprus and Greece, and postponed the idea.

In November, the Turkish Energy Minister was supposed to discuss this project in Tel Aviv, but his visit was canceled. Turkey blocked the idea for political reasons.

It should be noted that the possible volumes of Israeli gas were not planned to be sent to that part of Turkey and to the infrastructure in Turkey that is involved in the Southern Gas Corridor, as Turan was informed by two sources.  

Recall that before the October events (Hamas attacked Israel on October 7), Israel supplied gas from gas fields to Egypt, where the gas was converted into LNG and sent to Europe in this form. But the aggravation of the situation in the Middle East has suspended the operation of this route. 

It is worth noting that in the event of a break in energy cooperation with other Muslim countries, Israel will find itself in a crisis situation, since its gas and oil production on the Mediterranean shelf has been stopped.

This is hitting the economy of the Jewish state, whose national currency has collapsed, and reputable rating agencies have sharply lowered estimates of Israel's credit capabilities.