Posted on 03/30/2013 3:41:14 PM PDT by RoosterRedux
JERUSALEM: Natural gas from the Tamar field off Israel’s Mediterranean shores began flowing yesterday, the head of a partner in the field said in a statement.
Israel, once energy poor, is expected to become a gas exporter by the end of the decade, with the Tamar field holding enough reserves to meet the country’s gas needs for decades.
The gas discovery in 2009 led to an exploration frenzy in the Levant Basin — shared between Israel, Cyprus and Lebanon — and the uncovering of a second bigger find, Leviathan, which prompted Israel to set up a natural gas wealth fund.
“Today (we begin) independence in Israeli natural gas. It is an enormous achievement for the Israeli economy and the start of a new era,” said Israeli billionaire Yitzhak Tshuva, the controlling shareholder in Delek Group, one of the partners in Tamar.
The gas should lead to a reduction in production costs for state utility Israel Electric Corp as well as a decline in the price of electricity, the Israeli Water and Energy Ministry said last week.
Israeli Prime Minister Benjamin Netantyahu highlighted the achievement in a statement issued by his office. “We are taking an important step towards independence in the energy sector. In the past decade we have promoted Israel’s gas sector and this will enhance Israel’s economy and benefit all the country’s citizens,” he said.
Tamar is located 90km off the northern coast and has an estimated 10 trillion cubic feet of gas. Development of Tamar and Leviathan will make Israel less dependent on energy imports but the country has said it will also allow a significant amount of its natural gas to be exported.
(Excerpt) Read more at thepeninsulaqatar.com ...
Wanna bet the dems/marxists are not liking this?
Stop the bloodshed. We must have peace in the MiddleEast...."peace and security". Soon. It's for the children.
“... in the Levant Basin — shared between Israel, Cyprus and Lebanon....”
Will Israel be drinking their milkshakes?
This is great news for our Israeli friends.
Noble Energy out of Texas is building gas rigs for the Israelis. Noble has been working with the Israelis for about 10 years. The company has a 47% stake in the gas fields.
Indeed, but let's not forget that in Eze 38 Russia attacks a prosperous Israel, coming to plunder...
Producing your own natural gas is always than buying it abroad unless you’re sitting on it as an investment that’s expected to increase in value at a later time.
If you’d like to be on or off, please FR mail me.
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This is a very big deal.
Thanks RoosterRedux.
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