For Immediate Release: November 1, 2012
Contact: Tim Truman (202) 482-3809
Commerce Official, U.S. Delegation Conclude Oil and Gas Trade Mission to Israel
Highlights Opportunities for U.S. firms to Help Develop Important Industry Sector
TEL AVIV, Israel – Acting Deputy Under Secretary of Commerce for International Trade Ken Hyatt today concluded an oil and gas trade mission to Israel that promoted U.S. expertise and technology in a growing industry sector. Hyatt was joined by representatives from 14 U.S. companies and Texas A&M University. The delegation met with public and private sector leaders to learn about potential export opportunities.
“It’s clear the emerging Israeli oil and gas sector offers great opportunity for American companies to expand their exports,” Hyatt said. “Throughout our visit, our delegation met with potential public and private sector partners to begin laying the groundwork for entering this critical market.”
The country’s oil and gas industry is growing rapidly. The recent discoveries of natural gas deposits offshore and significant reserves of oil in Israel will require billions of dollars in investments to fully explore. These fields may have the capacity to support Israel’s domestic gas consumption with reserves left for exports, and related platform chemicals. Israeli officials have welcomed foreign companies to help explore these resources. U.S. firms have the technology and expertise to help develop this critically important energy resource for the region.
In addition to market briefings and meetings with industry officials, the U.S. delegation gained unique insight into Israel’s market for oil and gas manufacturing, services, and academic programs through attendance at the 2012 Israel Energy and Business Convention in Tel Aviv, Israel’s major energy forum.
The following organizations participated in this mission:
- Ariesone LP – Houston, Texas
- Custom Alloy Corporation – High Bridge, N.J.
- Dolezal-Southward Oil Services Company – Cypress, Texas
- EN Engineering – Woodridge, Ill.
- Galway Group LP – Houston, Texas
- GL Noble Denton – Houston, Texas
- Heideman Nudelman & Kalik – Washington, D.C.
- Hellman & Associates – Washington, D.C.
- Lux Capital – New York, N.Y.
- OSHAdvisors Consulting and Inspections – San Antonio, Texas
- Paragon Industries, Inc. – Morgan City, Louisiana
- RigStat LP – Stafford, Texas
- Texas A&M University – College Station, Texas
- TierraMajors Petroleum – Houston, Texas
- Wyle, Inc. – El Segundo, Calif.
Israel, a U.S. free trade partner and the most important market for American products in the Middle East, offers excellent opportunities for U.S. businesses. U.S. goods exports to Israel were nearly $14 billion in 2011. The trade mission supports President Obama’s National Export Initiative goal of doubling U.S. exports by the end of 2014.
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