Tag Archive for natural gas

Israel’s Energy Ministry opens Eastern Mediterranean for renewed gas exploration

 

By SHARON UDASIN

 

After a four-year freeze in offshore natural gas exploration, National Infrastructure, Energy and Water Minister Yuval Steintiz declared Israel’s Eastern Mediterranean open for business on Tuesday.

“A year and a half ago when I entered my position, the gas was stuck, the sea was closed and the sector was strangled,” Steinitz said, at a Jerusalem press conference that morning. “We are changing this picture.” Continue Reading »

Turkey & Israel expand energy cooperation, strengthen ties

 

6 years after the souring of ties, natural gas is helping the two regional powers begin normalizing their relations, with Israel’s Minister of Energy, Yuval Steinitz saying, ‘The economic results should be to the benefit of the peoples of Turkey & Israel.’

By Reuters

 

Israel and Turkey agreed to deepen cooperation in the energy sector on Thursday, taking a further step towards normalizing ties with the first Israeli ministerial visit to Turkey since a breakdown six years ago.

Israel’s Minister of Energy, Yuval Steinitz and Erdogan meet in Turkey – Photo source: Ynet

Israeli Energy Minister Yuval Steinitz said he would welcome more involvement by Turkish firms in the Israeli energy sector, particularly in gas exploration, and said “detailed dialogue” between the two governments would begin in the coming months,

After meeting in Istanbul with his Turkish counterpart Berat Albayrak, who is President Tayyip Erdogan’s son-in-law, Steinitz said the two had discussed the possibility of building a natural gas pipeline from Israel to Turkey. Continue Reading »

Israel’s historic gas deal with Jordan completed, now the Cyprus, Greece pipeline

 

Israel’s Energy minister Steinitz is set to meet with his Greek and Cypriot counterparts in Athens on Wednesday to begin talks on laying pipeline for gas exports to Europe.

 

After the Leviathan gas reservoir partners signed a massive deal with Jordan, Israel is now looking to lay a pipeline to Cyprus and Greece, so Israeli gas can be exported there and to other European countries, National Infrastructure, Energy and Water Minister Yuval Steinitz said Tuesday.

Map showing planned pipelines running from Israel’s Levianthan natural gas rig into Jordan

Steinitz, speaking to reporters before the weekly cabinet meeting that was pushed from Sunday to Tuesday because Prime Minister Benjamin Netanyahu was in the US, related to Monday’s announcement of a massive gas deal with Jordan, saying it was an “historic” day for the country, because for the first time in its history it became an energy exporter. Continue Reading »

Israel energy consortium signs $10 billion gas deal with Jordan

 

The Delek energy group just signed a 15 year deal that will see the sale of Israel’s natural gas worth $10 billion to the Hashemite Kingdom of Jordan.

By The Associated Press

 

Israel’s Delek Group, one of the developers of the country’s biggest natural gas reservoir, says it has signed a deal to sell gas to neighboring Jordan.

Delek Drilling CEO Yossi Abu – Photo source: Ynet

The agreement, announced Monday, would provide 45 billion cubic meters (1.6 trillion cubic feet) of gas to Jordan over 15 years. Delek says revenues could amount to $10 billion.

Delek Drilling CEO Yossi Abu hailed the “historic” deal and said developers of the Leviathan reservoir would pursue similar agreements with others in the region, including Egypt, Turkey and the Palestinian Authority. Continue Reading »

Israel’s natural-gas potential creates buzz for int’l exploration firms

 

Before heading to Singapore Israel’s Energy Minister Steinitz holds a series of meetings in London with world’s leading firms ahead of natural gas exploration tender planned for November.

By Hezi Sternlicht

 

Israel is courting foreign investors ahead of a planned natural gas and oil explorations tender the Energy Ministry plans to issue in November, Israel Hayom learned Wednesday.

Continue Reading »

Israel’s economy strengthening with development of energy sector

 

Israel’s geopolitical decision of exploiting the gas discovery for diplomatic purposes improved the geostrategic status of the State of Israel in the US, Europe & the Mid-East.

 

Israel’s natural gas discoveries could be key in transforming diplomatic relations in the region while boosting its growing economy, a number of experts said on Monday at the Jerusalem Post Annual Conference in New York.

THE TAMAR gas field platform juts above the Mediterranean – Photo: MARC ISRAEL SELLEM

At the conference’s panel on the Israeli economy, International economic law scholar and practitioner Efraim Chalamish said Israel’s energy sector has the potential to really advance the “start-up nation” since it allows for large companies to be part of the economy, employing large workforces made up of people diverse backgrounds and skill levels. Continue Reading »

Analysis: An Israeli gas pipeline to Turkey is a bad idea

 

Despite Israel’s reputation for toughness, Jerusalem tends to be too optimistic (i.e. the Oslo Accords and the Gaza withdrawal) however, tempting an Israel-Turkey gas pipeline will ultimately work against the Jewish State.

By Daniel Pipes

 

Recent news suggesting that the Turkish and Israeli governments are poised to renew full diplomatic relations after years of tensions makes me smile cynically — and worry again about Israeli gullibility.

The two states enjoyed close relations in the 1990s, when a common world outlook led to a strong military bond, growing trade, and exchanges of people and culture. Writing in 1997, I characterized this bilateral relationship as having “the potential to alter the strategic map of the Middle East, to reshape American alliances there, and to reduce Israel’s regional isolation.” Continue Reading »

Israel Formally Signs Natural Gas Deal With US, Israeli Gas Companies To Develop Additional Gas Deposits

 

Israel’s PM Netanyahu, who is also Minister of Economy, signs deal after months of contention, that’s meant to regulate the energy market in Israel.
• Energy Minister Steinitz adds, ‘The people of Israel will get 60% of the profit, a higher percent of the natural gas profits, than most western countries get.’

By Amir Alon

 

Prime Minister Benjamin Netanyahu, who is also the minister of economy, signed on Thursday the natural gas deal with US and Israeli gas companies to develop Israel’s offshore gas deposits, despite months of protest by liberal MKs and environmentalists.

Prime Minister Benjamin Netanyahu signing gas deal – Photo: Haim Horenstein

Ahead of the signing, Netanyahu asserted that “there is no way to open up the additional gas fields without this plan, it is the only chance.” Continue Reading »

Israeli warships armed with Iron Dome anti-missile system will protect gas reserves at sea

Israel’s “Sa’ar 5” warships already equipped with the Barak 1 missile defense system, will incorporate the Iron Dome as well, until new warships reached in a deal with Germany arrive in 2019.

The Israeli Defense Forces (IDF) will install its successful Iron Dome missile defence system on warships protecting Israel’s off-shore gas drilling platforms, a temporary measure until new warships acquired in a deal with Germany arrive.

The Iron Dome missile defense system, protecting Israel’s cities from Palestinian rocket attacks. – Photo: Twitter

Israel has huge and mostly untapped gas fields that cover some 23,000 square km (9,000 square miles) of sea, more than Israel’s territory on land.

Continue Reading »

Benjamin Netanyahu: Multiple offshore natural gas rigs vital to Israel’s national security

 

Israeli PM, “We must have several offshore gas rigs as one of the fundamentals of our national security.” 
• Energy & Water Resources Minister Yuval Steinitz, “The only way to create energy security, especially when considering potential hostilities, is to have 2 or 3 separate fields.”

By Hezi Sternlicht

 

Prime Minister Benjamin Netanyahu appeared Tuesday before the Knesset’s Economics Committee, which discussed the natural gas industry framework, and explained the importance and contribution multiple production sites would have to Israel’s energy and national security.

Israel’s Tamar natural gas field – Photo: Albatross Aerial PerspectiveAP

The proposed outline seeks to regulate the development, harvesting, and royalties pertaining to the Leviathan, Tamar, Tanin and Karish offshore fields, as well as any future natural gas finds. Continue Reading »

Egypt refuses arbitration decision: Pay Israel $1.76b in compensation for halting gas supply

 

Egyptian PM Sherif Ismail said it will appeal the ruling by the Int’l Chamber of Commerce within 6 weeks & a freeze to the current negotiations between Egyptian companies to import gas from Israeli fields.

By i24news

 

The Egyptian government has refused to pay a fine of $1.76 billion to Israel over halting gas supplies and has ordered its oil and gas import authorities to freeze talks with Israel.

Leviathan gas field in Israel – Photo: AFP

Egypt and Israel had signed a 20-year agreement where they would sell natural gas to Israel, but the deal collapsed in 2012 after months of attacks by Egyptian militants in the Sinai on the pipeline. Continue Reading »

Israel and Egypt sign letter of intent for natural gas deal

 

Israel’s offshore Leviathan natural gas field to supply Egypt with gas via existing Egyptian underwater pipeline via the Sinai.

By i24news

 

Israel’s offshore natural gas field Leviathan will supply gas to Egypt via an existing underwater pipeline to the Sinai peninsula, Leviathan’s partners said in a statement to the Tel Aviv Stock Exchange on Wednesday after signing a preliminary deal.

Leviathan gas field in Israel – Photo: AFP

As part of the deal, Leviathan will supply Egypt’s Dolphinus Holdings with up to 4 billion cubic meters of gas a year for 10 to 15 years.

Though Egypt used to be a major regional gas exporter in the region, with Israel being one of its clients, the tables have turned in recent years, owing to several factors – including, in Egypt, instability in the Sinai Peninsula region – where several large fields are located – due to the rise of the Islamist insurgent group Ansar Bait al-Maqdis, and in Israel, the discovery of large off-shore gas fields. Continue Reading »

Watch: How Israeli Naval Commandos Protect & Defend Vital Natural Gas Rigs

 

view videoIn a recent off-shore exercise, Israel’s elite naval forces drilled its troops’ response to a developing & very real underwater incursion threat posed by Hamas & Hezbollah.

By Yoav Zitun

 

The Israeli Navy on Wednesday revealed a series of exercises and experiments conducted this year aimed at improving reactions to nascent threats. The exercises included one simulating incursion and another simulating rocket fire at oil rigs off Israel’s coast.

The scenario in which seaborne terrorists make an incursion into Israel’s northernmost coastal region, between Rosh Hanikra and Nahariya, is grounded in reality; a similar attempt took place during last summer’s Operation Protective Edge, in which Hamas frogmen disembarked on a southern shore. Continue Reading »

Analysis: A Turkey-Hamas-Israel reconciliation?

The deal: Israel sells natural gas to Turkey, acquiring cheaper energy, and the Palestinians catch a break with relief on the blockade.

By Emmanuel Navon

 

The long-awaited approval of the natural gas deal by the Israeli government has the potential of turning Israel into a major energy exporter and therefore into a different kind of geopolitical player. This change is already being felt vis-à-vis a former regional ally-turned-challenger: Turkey.

In September 2014, the owners of the Leviathan gas field (Noble Energy and the Delek Group) signed an agreement with Jordan’s national electric company (NEPCO) for the export of 45 BCM (billion cubic meters) of natural gas over 15 years. Continue Reading »

Israel and Cyprus Consider Linking Natural Gas & Electricity to European Markets

Cyprus to expand cooperation in energy issues and security with Jerusalem after uncovering  covert Iranian terror plot across Europe from arrested Hezbollah agent in Larnaca.

By REUTERS

 

NICOSIA – Israel and Cyprus agreed on Tuesday to expand their cooperation on energy issues, including the use of pipelines and electricity grids to link to European markets, as both countries develop natural gas fields off their coasts.

Continue Reading »