web analytics
July 4, 2015 / 17 Tammuz, 5775
At a Glance
InDepth
Sponsored Post


Home » InDepth » Op-Eds »

Moses’ Gift: Natural Gas in the Mediterranean

The valuable Cypriot gas fields are located halfway between the Cypriot and Israeli coast.
A natural gas drill rig in the Mediterranean.

A natural gas drill rig in the Mediterranean.
Photo Credit: Nati Shohat / Flash 90

Golda Meir once quipped that Moses could have done the Jewish people a better service. “He took us 40 years through the desert,” she said, “to bring us to the one spot in the Middle East that has no oil.”

Today, Golda Meir’s quip has lost its punch. Last week, natural gas began flowing out of the Tamar gas field, discovered off the coast of Israel in January 2009. Tamar and Leviathan, its neighboring gas field, discovered in June 2010, are among the world’s largest recent offshore natural gas discoveries. The Israeli companies controlling the fields are even considering exporting gas to neighboring countries.

Geologists assume that commercial oil reserves may lie beneath the gas find. Some analysts say that the Tamar and Leviathan fields might change Israel’s position in the geopolitical and energy world. But not just Israel’s.

The Israeli fields are adjacent to the Aphrodite gas field, discovered in December 2011, which lies in Cypriot territorial waters, less than 25 miles west of Leviathan. The government in Nicosia expects that the result of offshore drillings will confirm later this year that the island is sitting on vast amounts of natural gas worth billions of dollars. The recent banking crisis in Cyprus –the latest episode in the saga of the collapsing euro – came too early for the country to benefit from its future natural gas wealth. It is, however, indicative that Cyprus turned down the European Union’s demands that the gas reserves be used as collateral for the loans which the E.U. has just extended to Cyprus.

Brussels had demanded that a fund be created in which it was given a direct say over the revenues from Cypriot gas reserves, but Nicosia refused to do so. The Cypriots feel betrayed by the E.U. Hence, they are not inclined to let Europe share in the future wealth which they hope to derive from gas. Nicos Anastasiades, the president of Cyprus, said that Cyprus had no other choice than give in to the harsh demand of Brussels that it dismantle its banking sector. He, however, promised that savers who lost money in the Cypriotic banks would be compensated by being given shares in banks guaranteed by the future natural gas revenues.

Today, Cyprus is paying a very heavy price for its membership of the E.U.’s common currency, the euro. When by 2019 the gas proceeds are expected to start flowing, the tables will be turned. Then Cyprus will be in a position to leave the euro without facing the prospect of national bankruptcy.

To begin extracting the gas from the Aphrodite field by 2019, however, the virtually bankrupt Cypriot government will in the coming years need to make enormous investments. The Russian state-owned gas company Gazprom, the largest extractor of natural gas in the world, seems keen to get involved. So far, however, the Cypriots have kept the Russians at bay.

Europe is already to a large extent dependent on Russian gas, supplied by Gazprom, a company controlled by the Russian oligarchy around President Putin. A quarter of Europe’s of Europe’s entire gas consumption comes from Gazprom. As a new player in the market of gas exporters, Cyprus could reduce the European dependency on Russian gas.

What applies to Cyprus, obviously, applies to Israel as well. It, too, could use its gas exports to a political end. Bat Ye’or has argued that the pro-Palestinian positions of the European governments since the 1970s were to a large extent the result of Europe’s dependency on Arab oil. Israel has a unique chance of also using the Cypriot gas to its own geostrategic benefit. The Cypriot gas fields are located halfway between the Cypriot and Israeli coast. Israel, Cyprus and Greece are already collaborating in the EuroAsia Interconnector project, which is an undersea power cable linking Israel with Cyprus and Cyprus with Greece. A gas pipeline following the same route would balance the current pipeline on the Baltic seabed linking Russia with Germany.

Another opportunity for Israel might be the fact that some international gas companies are reluctant to get involved in the exploitation of Cypriot gas fields because they also operate in Turkey and do not want to upset the Turkish authorities who oppose the Cypriot gas extraction. Though the Aphrodite gas field lies in waters across Southern Cyprus, Turkey is demanding that all gas revenues be shared with Turkish occupied Northern Cyprus.

About the Author: Peter Martino is a European affairs columnist for the Gatestone Institute.


If you don't see your comment after publishing it, refresh the page.

Our comments section is intended for meaningful responses and debates in a civilized manner. We ask that you respect the fact that we are a religious Jewish website and avoid inappropriate language at all cost.

If you promote any foreign religions, gods or messiahs, lies about Israel, anti-Semitism, or advocate violence (except against terrorists), your permission to comment may be revoked.

2 Responses to “Moses’ Gift: Natural Gas in the Mediterranean”

  1. Betty Kirkland says:

    We often have to wait for G-d`s timing.

  2. Lynette Bezuidenhout says:

    God's timing is so on time!

Comments are closed.

Current Top Story
Secretary of State Hillary Clinton with Prime Minister Netanyahu in 2012.
Hillary Clinton Says She Will Be Better Friend than Obama to Israel
Latest Indepth Stories
Jelgava Synagogue, Latvia

Latvia, July 4, 1941 they forced many Jews in the shul putting it on fire; everyone was burned alive

United Nations Building, New York City

There’s blood on the reporters’ hands AND New Israel Fund for funding groups feeding lies to the UN

Zuckerman-070315

Respect & appreciation for our country is not only a civic value but an essential Jewish one as well

wedding cake

When words lose meaning, the world becomes an Orwellian dystopia; a veritable Tower of Babel

Israel, like the non-radical Islamic world. will be happy see the ISIS beheaded for once.

Kids shouldn’t have “uninstructed” Internet access, better to train them how to use it responsibly

What if years from now, IS were to control substantial territory? What world havoc would that wreak?

Rambam writes the verse’s double term refers to 2 messiahs: first King David; 2nd the final Mashiach

The Gaza flotilla has been rightfully and legally blocked by Israel’s Navy, with greetings from Bibi

The president described the attack as “an act that drew on a long history of bombs and arson and shots fired at churches, not random, but as a means of control, a way to terrorize and oppress…”

“The only [candidate] that’s going to give real support to Israel is me,” said the 69-year-old Trump.

And whereas at the outset the plan was that Iran would have to surrender most of its centrifuges, it will now be able to retain several thousand.

Now oil independent, US no longer needs its former strategic alliances with Gulf States-or Israel

In addition to the palace’s tremendous size it was home to the “hanging gardens,” which were counted among the seven wonders of the ancient world.

More Articles from Peter Martino
The Anne Frank Museum in Amsterdam, pictured above, is run by the Anne Frank Foundation, which wrote in a report, "Israel pushes Palestinians economically into a corner and humiliates them psychologically."

“It appears that the suffering of the Jews has not transformed their view on how others should be treated.” — David Ward, British MP.

angela and friend

Because of the “5% hurdle,” Germany’s new coalition will tilt be to the left, while voters clearly wanted Germany to turn to the right.

Belgian children aged 6 to 12 are being instilled with a deep hatred for.

Islamic immigrants are hoping that by turning out a large number of their voters at a time of German voter apathy, they will be able to promote the further Islamification of Germany.

Europeans are rebelling against the unelected E.U. and its grandiose, self-regarding project of abolishing the national sovereignty.

The valuable Cypriot gas fields are located halfway between the Cypriot and Israeli coast.

Indicative of the national mood, the French are the world’s largest consumers of anti-depressants.

What we are witnessing is the Obama administration actively interfering in European politics to advance European centralization.

Printed from: http://www.jewishpress.com/indepth/opinions/moses-gift-natural-gas-in-the-mediterranean/2013/04/14/

Scan this QR code to visit this page online: