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Tag: Gas in Israel

They Shoot, We Build

EMG, the East Mediterranean Gas Company is restarting its gas supply, after it was severed on February 5th, after a terror attack on a pipeline between Suez and El Arish, shortly after the onset of the mutiny in Egypt. This move will renew the natural gas flow to Israel.

Bedouin opposition groups have been staging protests against resuming the flow and the cooperation of Egyptian officials with the Jordanian government to raise the prices. At the cost of $460 million, EMG built the pipeline from the Sinai to Ashkelon in 2008.

Meanwhile, Lebanese demonstrators gathered in Beirut’s Martyrs Square on Sunday to protest the Iranian-led Hezbollah, who has taken over that feeble nation. Apropos, the building of a Palestinian State may be hurried along this way: a “Tahrir Square” in the West Bank, or, or, or, The Gaza Strip. However, the Palestinian people are not seemingly capable of such a high-level of organization and order.

Amidst the push for Democracy in Lebanon and the nebulous nature of Egypt, if there is one person doing justice to democracy in the Middle East it is no other than Israel Prime Minister, Binyamin Netanyahu.

While reactionary Jewish “price-taggers” are playing vigilante by stoning and igniting Palestinian vehicles, Bibi has the right idea. “Hem Yorim – Anachnu Bonim: They shoot, we build.” He is responding to the murder of the Fogel family by building. 500 new homes are going up in Ma’ale Adumim, Ariel, Kiryat Sefer and Gush Etzion.

United Nations special coordinator, Robert Serry, complained about the decision:

“It is not conducive to efforts to renew negotiations and achieve a negotiated Israeli-Palestinian peace.”

Levant Basin Province Has Gas

According to the humble estimate of a US energy industry expert, international companies might soon join exploration efforts for oil and gas in the Holy Land.
Fred Zeidman told Globes website:

“It is quite likely that international firms will join the exploration efforts on Israeli territory; this comes one year after the ‘Tamar’ and ‘Dalit’ discoveries in the Mediterranean Sea. One international firm has already embarked on the could-be gold rush: Noble Energy, which was the partner of Delek and Isramco in their respective discoveries”.

Two of Israel’s largest financial groups: Nochi Dankner‘s IDB group and Ofer Nimrodi’s Israel Land Development too have entered the sector already.

Zeidman said:

“It happens all the time…We see in the US that the moment a company discovers oil or gas that can be transported, there’s a crazy rush to the region by other companies, and that’s a function of the size of the reserves found. Around the world, as soon as Noble goes to a place, many other companies follow in its wake. The prospects here are amazing, and I have no doubt that we’ll see an economic boom, and a rush of more companies to Israel from overseas following Noble.”

Levant Basin Province

A report done by the U.S. Geological Survey estimates that 122 trillion cubic feet of recoverable natural gas are in the Levant Basin Province in the eastern region of the Mediterranean.

This area includes the coastal areas near Israel, Lebanon and Syria.

Brenda Pierce, a USGS Energy Resources Program Coordinator said:

“The Levant Basin Province is comparable to some of the other large provinces around the world…Its gas resources are bigger than anything we have assessed in the United States.”

The Levant Basin Province holds an estimated 1.7 billion barrels of undiscovered oil, which can be easily recovered with existing technology. This marks the first time the USGS has assessed the Levant Basin area for extractable resources.

Israel Is Even More Gassy Than Before!

Gas in IsraelThe State of Israel now has 7.31 trillion cubic feet of natural gas at its disposal. Up until now they thought it was only 6.29 trillion, but they decided to add another trillion and change to the estimate today. That is an inordinate amount of fuel, enough to run the country independently for several decades. 36% of the gas field, found off the coast of Haifa, is owned by Noble Energy, an American company that operates the site on behalf of its other Israeli partners.

These are Isramco Negev 2, (29%) Delek Drilling (16%), Avner Oil Exploration (16%) and Dor Gas Exploration (4%). Of course, all those stocks went way up as a result of the announcement. The proven reserves are about 6 trillion, and the estimated and probable are a whopping 7.7 trillion. The latter number is the one being used to formulate the companies’ future plans regarding the site.

Israel will now not only be able to independently fuel its own electricity needs, but also export and make some good money. This will also affect energy bills, so if you live here, you’ll be paying less on those bimonthly bills you get in the mail.

Gideon Tadmor, CEO of Avner and Tzvi Greenfeld, CEO of Delek, said, “The professional and independent report that was received verifies the remarkable size and quality of the Tamar Field.”

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