Israel's Energy Minister Yuval Steinitz attended the Republic Day reception at the Turkish Embassy in Herlziya on Thursday, the first such invitation since the two countries normalized relations after a six-year crisis over Israel's deadly storming of a Gaza-bound ship.

Speaking at the reception, the Israeli minister said that economic cooperation between Turkey and Israel was as important as diplomatic cooperation.

"Turkey can import natural gas coming from Israel; such a step can strengthen mutual trust for the two states," he said.

Diplomatic ties between Turkey and Israel were disrupted in May 2010 when Israeli commandos killed 10 Turkish activists on a humanitarian aid ship, the Mavi Marmara, which was heading for Gaza.

Turkey demanded a number of conditions -- an apology, the payment of compensation and the lifting of Israel's Gaza blockade -- be fulfilled before the return of normal relations. Ankara now considers these terms as fulfilled.

Turkish and Israeli companies are discussing a possible gas pipeline between Israel and Turkey to transport natural gas supplies to Europe from the Leviathan gas field in the Mediterranean Sea off the coast of Israel, which holds an estimated 620 billion cubic meters of gas.