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September 22, 2014 / 27 Elul, 5774
At a Glance

Posts Tagged ‘Natural gas’

No Turkish Delight for Israeli Energy

Tuesday, September 9th, 2014

Turkey is not going to be signing any deals for Israeli natural gas exports any time soon – at least, according to a statement by Turkish Energy Minister Taner Yildiz.

The Turkish energy mogul said Tuesday that Ankara was unlikely to approve construction of a gas pipeline from Israel to Turkey. Yildiz blamed the sour relations with Israel on the Jewish State’s counter terror Operation Protective Edge this summer against Hamas and allied terrorists. The operation was carried out to silence the incessant, deadly rocket fire being aimed at Israeli civilian families in the southern part of the country.

Jordan, however, has just concluded a deal to import natural gas from Israel over the next 15 years, at a cost of some $15 billion.

The massive Leviathan natural gas field discovered beneath the waters of the Mediterranean, off the northern coast of Israel, turned the Jewish State into a regional energy exporter practically overnight. Talks between the Leviathan consortium and Turkish counterparts subsequently had been taking place quietly over the past year, but politics sabotaged any deals that might otherwise have come to fruition.

“For energy projects to proceed, the human tragedy in Gaza will have to be stopped and Israel will have to instate a permanent peace there with all elements,” Yildiz told reporters in Ankara. “It is out of question to proceed on any energy project unless a permanent peace is established, with contribution from all sides and with necessary conditions. A human tragedy unfolded (in Gaza); it is all too easily forgotten.”

Relations between Turkey and Israel have been limping since 2006, when the number of attacks from Gaza escalated sharply. Israel was forced at the time into launching a maritime and overland blockade of Gaza when Hamas and allied terrorists carried out a cross-border attack and abducting an IDF soldier. In that attack, two other soldiers were killed and a third was critically wounded.

Turkey’s President Recep Tayyip Erdogan and his ruling AKP party have long been strong supporters of the Muslim Brotherhood — which spawned the Hamas terrorist organization that rules Gaza. Likewise, Erdogan and Turkey continue to defend actions by Hamas, regardless of the consequences.

Israel is Energy Exporter in $15b Gas Deal to Jordan

Wednesday, September 3rd, 2014

Israel became an energy producer for the first time today with the closure of a deal to export natural gas to Jordan from the mammoth Leviathan gas field.

Leviathan will become Jordan’s main supplier of natural gas in the coming years. Months of discussions in the Israeli government eventually ended earlier in the year with a decision that the country would be allowed to export 40 percent of its offshore natural gas reserves.

Noble Energy Inc., Delek Group Ltd, Avner Oil and Gas LP and Delek Drilling Limited Partnership and Ratio Oil Exploration were expected to sign a $15b Memorandum of Understanding today (Sept. 3, 2014) to export natural gas for the next 15 years to Jordan.

Israeli Minister of Natural Infrastructures, Energy and Water Resources Silvan Shalom, and the U.S. State Department were both involved in the deal.

The Leviathan gas field is a large natural gas field located in the eastern Mediterranean Sea off Israel’s coastline, about 47 kilometers (29 miles) southwest of the Tamar gas field. It is located approximately 130 kilometers (81 miles) west of Haifa, in waters about 1,500 meters (4,900 feet) deep.

Leviathan Natural Gas Field 16% Larger Than Expected

Wednesday, July 16th, 2014

Israel has received good news from the energy sector despite the missile fire aimed at its civilians by Gaza terrorists. The Leviathan gas field was found to be even bigger than previously expected.

The estimated size of the natural gas reserve was raised Sunday by 16 percent after an updated analysis by consultant Netherland Sewald & Associates (NSAI) estimated the field to hold 21.93 trillion cubic feet (620 billion cubic meters, or bcm.)

NSAI raised its estimate based on expansion of Leviathan’s database, which included 3D seismic surveys and a laboratory analysis.

Along with Leviathan, the Tamar field holds 303 bcm and began production a year ago. Two other, smaller sites hold an additional 58 bcm.

The Leviathan field is operated by Texas-based Noble Energy, which holds 39.66 percent of the rights to the reserve. Israel’s Avner Oil and Delek Drilling, both subsidiaries of the Delek Group – hold a combined 45.34 percent stake. Ratio Oil holds the remaining 15 percent of the shares.

Lebanon Calls for US Help to Pilfer Israeli Gas

Thursday, June 5th, 2014

Lebanon’s parliament speaker announced Thursday that Beirut would ask the United States for help to cut in on Israel’s natural gas reserves in the Mediterranean Sea, the Times of Israel reported Thursday.

The field is located off the coast of Nahariya, south of Lebanon’s territorial waters. The area in question is a 1,400- square kilometre maritime that is considered part of Israel’s exclusive economic zone. US geologists believe the area contains up to 123 trillion cubic feet of natural gas and 1.7 billion barrels of oil.

Until that discovery was made, Lebanon had never laid claim to the area.  Since then, however, Hezbollah spokespeople have mentioned the issue repeatedly in their speeches, apparently planning to turn the area into a “maritime Sheba Farms,” a reference to the area of Israel that Hezbollah claims as “occupied” Lebanese territory. The United Nations regards that area as part of Syria, where as UN maps show the site as clearly being inside Israel.

For Hezbollah, however the supposedly-“occupied” Farms create pretext to continue preparations to fight the Israeli enemy.

Seize the momentum

Apparently seeking to seize on the momentum created when the United States legitimised Hamas’ participation in the Palestinian unity government, Parliament Speaker Nabih Berri asked Secretary of State John Kerry Wednesday to intervene on Lebanon’s behalf. who paid a surprise visit to Lebanon Wednesday.

TOI quoted the as-Safir newsper, which said that Berri told Kerry he hoped the US would mediate between Lebanon and Israel “in a balanced and fair manner.” Berri also apparently tried to bribe Kerry, offering an opportunity for US companies to become “partner(s) in oil exploitation in Lebanon,” the website added.

Lebanese factions fought a devastating civil war from 1975-90, destroying the country’s tourism industry and much of its export trade. In the past, the country, which is poor in natural resources, has been a haven of cultural freedom and tolerance, with a thriving nightlife and culture scene in the capital, Beirut.  Since then, the country’s economy has basically stagnated.

In addition, Lebanon has essentially been taken over by Iran, via its local proxy, Hezbollah. Following Israel’s withdrawal from the security zone the terror group has repeatedly kidnapped Israeli soldiers, most recently provoking the Second Lebanon War in 2006. As a result, Beirut has incurred massive national debt with little ability to repay it.

TOI reported that the United States has asked Lebanese officials to hold off on drilling in disputed waters until a final deal on borders can be reached.

Tshuva To Export 20% of “Tamar” Gas Field to Egypt

Tuesday, May 6th, 2014

Yitzchak Tshuva plans to sell 20% of the gas drilled from the “Tamar” gas field to Egpyt, according to a report in Calcalist.

Letters of understandings were signed, and official contracts are expected to be signed in six months.

This is the first export agreement with Egypt, and follows the export agreement signed a few months ago with Jordan.

Egypt is to receive 4.5 BCM (billion cubic meters) each year for 15 years. The deal is valued at 1.1 to 1.3 billion dollars a year for a total of around $20 billion dollars.

The “Tamar” gas field holds an estimated 320 BCM and is owned by Noble Energy (36%), Delek and Avner Drilling (31.25%), Isramco (28.7%) and Dor Gas (4%).

Israel to Sell $500 Million of Natural Gas to Jordan

Wednesday, February 19th, 2014

The Nobel Energy consortium developing Israel’s offshore “Tamar” natural gas fields has signed a half a billion dollar deal to export gas over the next 15 years to Jordan’s Arab Potash Co. and Jordan Bromine Co.

The exports could grow to $30 billion over a longer period of time.

Nobel and its Israeli partners Delek, Isramco and Alon Natural Gas. Will build a pipeline from the Dead Sea Works to the Jordanian side of the Dead Sea.

U.S. Deputy Assistant Secretary for Energy Diplomacy at the State Department Amos Hochstein has held more than a dozen meetings with Jordanian and Israeli businessmen and political leaders over the past 18 months to help negotiate the Jordan’s King Abdullah II and Prime Minister Binyamin Netanyahu were involved.

Jordan is increasingly dependent on Israel, which already supplies the kingdom with water, and the significance of Israel’s recent oil and gas discoveries has been under-exaggerated, both economically and financially.

The consortium operating the Tamar gas field previously have signed a 20-year contract to sell $1.2 billion worth of natural gas to the Palestinian Authority.

The purchases by Jordan and the Palestinian Authority come at the expense of Egypt, which has been a totally unreliable supplier thanks to terrorists who frequently blow up the pipeline that brings gas from El Arish to Israel and Jordan.

The deal with Jordan “will pave the way for additional export projects which could enhance regional cooperation as well as provide additional supply to the domestic market and enhanced security of supply through development of additional reservoirs and infrastructure,” said Noble Energy VP Eastern Mediterranean Lawson Freeman.

The new natural gas industry in Israel is creating thousands of jobs for laborers and engineers and also has helped turned the shekel into one of the world’s strongest currencies against the dollar.

Politically, Israel’s energy sources and water resources , thanks to desalinization plants, are creating conditions that will make the Palestinian Authority and Jordan a lot less belligerent while leaving Egypt to wallow in its own economic and political anarchy that was hastened by the Arab Spring revolutions.

Abbas Asks Russia for Billion Dollar Gas Project Off Gaza Coast

Thursday, January 23rd, 2014

Palestinian Authority  chairman Mahmoud Abbas asked Russian Prime Minister Dmitry Medvedev Thursday to invest in a $1 billion natural gas project off the coast of Hamas-controlled Gaza, Russia’s news agency reported.

Abbas is vesting Moscow, which has been a strong backer of the Palestinian Authority.

Securing a huge investment for Gaza would help Abbas win popularity at the expense of Hamas, which took over the area in a bloody militia war nearly seven years ago.

Printed from: http://www.jewishpress.com/news/breaking-news/abbas-asks-russia-for-billion-dollar-gas-project-off-gaza-coast/2014/01/23/

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