June 26, 2012 - Canada and Israel today signed a new agreement on energy cooperation that will advance Canada's energy interests and contribute to jobs, growth and economic prosperity. The agreement will strengthen ties and increase bilateral relations on offshore development, new sources of oil and gas supplies, and renewable energy.

The Honourable Joe Oliver, Minister of Natural Resources, and Dr. Uzi Landau, Israeli Minister of Energy and Water Resources, signed the agreement in Tel Aviv, Israel.

“We see tremendous opportunities for Canada and Israel to cooperate more closely on energy issues.” said Minister Oliver. “Today’s agreement underscores the important strategic relationship between Canada and Israel.”

In the development of offshore resources, Canada and Israel agree to strengthen cooperation in offshore oil and gas management through an ongoing exchange of information and expertise on policy and regulatory issues, as well as through the promotion of industrial cooperation between their respective offshore sectors.

On new sources of oil and gas supplies, the two countries agree to explore opportunities for collaboration to reduce environmental impacts and to improve practices for the responsible development and use of unconventional oil and gas resources. The two countries will also seize opportunities to ensure that knowledge and lessons learned related to these new sources of oil and gas supplies are shared on a regular basis.

On renewable energy, both Canada and Israel will develop further cooperation in this area and seize opportunities to leverage current science and technology partnership activities in order to benefit from each other’s expertise.

The Government of Canada is committed to strengthening bilateral ties with Israel, advancing Canada’s energy interests and contributing to Canada’s long-term economic well-being.

The Statement on Cooperation in the Energy Sector between Canada and Israel can be found at: http://www.nrcan.gc.ca/media-room/news-release/2012/6344n