Tag Archive for natural gas

| September 3, 2015
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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 »

Category: Israel News | Tags: ,
| August 19, 2015
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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 »

Category: Israel News, Mid-East News | Tags: , , ,
| July 28, 2015
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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.

Israel Cyprus

PM Netanyahu with Cypriot President Nikos Anastasiades – Photo: KOBI GIDEON/GPO

Israeli Prime Minister Benjamin Netanyahu and Cypriot President Nicos Anastasiades said they would seek to tap the potential of natural gas in the sea bed beneath both countries.

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Category: Israel News | Tags: , , , , ,
| July 27, 2015
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Natural gas lines expedited to four Haifa factories

The expedited construction of gas distribution lines comes as part of a plan by Israel’s Environmental Protection Ministry to reduce air pollution in the Haifa Bay area.

By SHARON UDASIN

 

Following pressure from the Environmental Protection Ministry, four factories in the Haifa Bay region will soon be connected to natural gas for the first time, the ministry announced on Sunday.

Haifa bay – Photo: URIA ASHKENAZY/WIKIMEDIA COMMONS

The Haifa District Committee for Planning and Building recently approved the connection, after Environmental Protection Minister Avi Gabai met with a number of officials in the bay region to demand the expedited construction of two low-pressure gas distribution lines, the ministry said. Continue Reading »

Category: Israel News | Tags: , , ,
| April 9, 2015
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Israel’s debt from Gaza War recouped from its new natural gas exports

Israel’s new natural gas exports have fully covered financial loss from IDF’s summer ‘Operation Protective Edge’.

By Moshe Cohen

 

Israel took an economic hit from fighting Hamas terrorists in Operation Protective Edge, with the summer war causing an 0.3% reduction in the country’s GDP (Gross Domestic Product).

Gas field (illustrative)

But no need to worry according to the Bank of Israel – the country made its lost fortune back thanks to the fruits of its offshore natural gas reserves, which contributed 0.3% to the national economy in 2014.

The data came from a report issued by the Bank earlier in the week on the activities of the companies responsible for extracting natural gas from Israel’s offshore fields, how much they pay in taxes and royalties, and what the general economic impact of the gas stores are on the economy.

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Category: Israel News | Tags: ,
| April 3, 2015
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Israel approves natural gas deal with Jordan

PM Netanyahu and Energy Minister Shalom authorized agreement to export Tamar natural gas to 2 Jordanian concerns.

By SHARON UDASIN

 

Cementing Israel’s first natural gas export deal with Jordan, National Infrastructure, Energy and Water Minister Silvan Shalom and Prime Minister Benjamin Netanyahu authorized an agreement to convey Tamar reservoir gas to two Jordanian companies on Thursday.

Israel’s natural gas platform – Photo: MINISTRY OF NATIONAL INFRASTRUCTURES

The ministerial approval follows the February 2014 announcement of the transaction between the Tamar reservoir partnership and the Jordanian firms. The approximately $500 million deal enables the provision of up to 2.2 billion cubic meters of gas to the Arab Potash and Jordan Bromine companies over 15 years, for use at their respective facilities near the Dead Sea. Continue Reading »

Category: Israel News | Tags: , , ,
| March 12, 2015
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Palestinian Power Company Reneges on Israel-Palestine Natural Gas Contract

After delays by Israel’s Antitrust Authority to make decisions, Palestine Power Generation Co decided to cancel its $1.2-billion Leviathan contract with the Delek Group & Noble Energy.

By Arutz Sheva Staff

 

An Israeli partner in the Leviathan offshore gas field said on Wednesday a Palestinian Arab company had cancelled a $1.2-billion supply contract, citing delays by Israel’s Antitrust Authority.

Delek said it had informed the Tel Aviv stock exchange that a 20-year contract it had signed with the Palestine Power Generation Co was cancelled by the Arabs on Tuesday, reports AFP.

Delek said this was because of “non-fulfillment of the conditions precedent set forth in the agreement, and essentially non-receipt of the approval of the Antitrust Authority, the delay in approving the development plan of the Leviathan project as well as other regulatory approvals required by law.”

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Category: Israel News | Tags: , , ,
| March 5, 2015
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WSJ reports Egypt ready to import Israel natural gas if conditions are met

Egyptian Oil Minister told Wall Street Journal that gas price must be right and the current legal complaint by Union Fenosa Gas against Egypt must be dropped.

By i24news

 

Egypt is ready to take the controversial step of importing natural gas from Israel, if the price is right and if one of the gas companies involved in the deal drops legal action, Egyptian Oil Minister Sherif Ismail told The Wall Street Journal on Thursday.

Tamar offshore drill platform – Photo: Delek energy

“We would approve the gas deal if it will meet domestic demand, offer high value for the Egyptian economy and if the international arbitration with one of the companies is resolved,” Ismail said. Continue Reading »

Category: Israel News | Tags: , , ,
| December 11, 2014
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Jordanian Gov’t Defends Israel Gas Deal From Domestic Opposition

Jordanian parliamentary opposition to their gas deal with Israel grows as public protests & lawmakers attempt to cancel the deal.

By Arutz Sheva Staff

 

Jordanian plans to buy gas from Israel have aroused fierce opposition in the kingdom at a time of mounting criticism of the Jewish state’s policies toward Palestinians.

Jordan's parliament

Jordan’s parliament – Reuters

Parliament began debating the proposed gas deal on Tuesday, after 79 lawmakers in the 150-seat house filed a motion calling for it to be scrapped.

“Gas supply is part of national security, so how can we link it to an enemy who does not respect its commitments?”

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Category: Mid-East News | Tags: , , ,
| December 11, 2014
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Cyprus, Greece & Israel push for EU gas pipeline link

 

Cypriot & Greek officials say the pipeline, linking Israel, Cyprus, Italy and Greece, would reinforce the European Union’s energy security with its 8-12 billion cubic meter capacity.

The Associated Press and Israel Hayom Staff

 

Cyprus says it has joined with Israel and Greece to get the European Union to consider a pipeline that would link the continent with newly found natural gas fields in the eastern Mediterranean.

A statement Tuesday said Cypriot Energy Minister Giorgos Lakkotrypis and his Greek counterpart Yiannis Maniatis pitched the idea to European Commission Energy Union chief Maros Sefcovic.

The officials told Sefcovic in Monday’s meeting that the proposed East-Med Corridor would have a capacity of 8 billion to 12 billion cubic meters and would link Israel, Cyprus, Greece and Italy.

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Category: Mid-East News | Tags: , , , , ,
| November 21, 2014
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Delek Reports: Leviathan gas field to begin exporting by early 2018

 

Delek Drilling, one of basin’s stakeholders, announced in its financial report for 2014, that among several regional letters of intent & deals discussed for both the Tamar & Leviathan reservoirs, was a letter of intent signed between the Tamar partners & the Spanish firm Union Fenosa Gas.

By SHARON UDASIN

 

 

 

Israel’s sizable Leviathan gas reservoir will likely begin flowing by the beginning of 2018, the basin’s stakeholders announced on Wednesday night.

Israel's natural gas

Israel’s natural gas. – Photo: MINISTRY OF NATIONAL INFRASTRUCTURES

Delek Drilling, a member of the Leviathan partnership, made the announcement in the company’s third quarter financial report for 2014. Continue Reading »

Category: Israel News | Tags: , ,
| October 20, 2014
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Israel’s Agreement to Sell $700 Million in Natural Gas to Egypt Awaits Gov’t Approval

Israel’s Tamar gas field’s partners announced signed letter of intent to sell 5 billion m3 of gas valued at $700 million to Egypt over the next 3 years, awaits final approval by Israel & Egypt.

By Hezi Sternlicht, Reuters and Israel Hayom Staff

 

The partners in Israel’s offshore Tamar gas field announced Sunday that they have signed a memorandum of understanding for the sale of at least 5 billion cubic meters of gas to Egypt’s Dolphinus Holdings over the next three years, via an old pipeline built to send gas in the other direction.
Tamar

The Tamar offshore drilling site [Archive] – Photo: Albatross

Energy industry experts hedged Monday that the deal could be worth some $700 million.

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Category: Israel News | Tags: , , ,
| September 29, 2014
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British energy expert says Israel’s natural gas bonanza is an illusion

Expert says Israel’s export costs to Far East will be much higher than competitors for all-important market, and suggests the LNG be used mainly for Israel’s domestic needs.

 

The national consensus holds that the discoveries of huge offshore natural gas fields in recent years amount to an economic revolution, one that will put the economy on easy street for generations to come. A leading British energy expert, however, says it’s an illusion.

leviathan - Courtesy Albatross - July 8 2011

Drilling at the Leviathan natural gas field off the Mediterranean shore. – Photo: Courtesy Albatross

“Exporting gas as LNG [liquefied natural gas] is very expensive. Israeli gas isn’t competitive enough to compete with LNG from other countries,” says Nick Butler, one-time senior energy adviser to former Prime Minister Gordon Brown, and former vice president for strategy and policy development at British Petroleum Group, in an interview with Globes’ Hedy Cohen.

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Category: Israel News | Tags: , , ,
| September 3, 2014
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Israel & Jordan Sign Natural Gas Deal for 15 Years

 

Noble Energy announced on Wednesday afternoon, that if the signed letter of intent progresses into a full-fledged deal, the Leviathan partners would likely deliver the gas supply across a border location between Israel & Jordan,

The 621-billion cubic meter Leviathan gas reservoir, off of Haifa, is expected to begin flowing in 2017.

On behalf of the Leviathan natural gas reservoir partners, Noble Energy signed a non-binding letter of intent on Wednesday to supply about 45 billion cubic meters natural gas to Jordan’s National Electric Power Company over a 15-year period.

Oil Platform

Oil Platform. – Photo: INGIMAGE / ASAP

If the letter of intent progresses into a full-fledged deal, the Leviathan partners would likely deliver the gas supply across a border location between Israel and Jordan, Noble Energy announced on Wednesday afternoon. Continue Reading »

Category: Israel News | Tags: , , ,
| August 21, 2014
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Hamas’ Rockets Targeted Israel’s Off-Shore Natural Gas Well

A gas platform, located about 30 km off the coast of Gaza, hasn’t suffer any damage in 1st attack of this kind.

By REUTERS

 

Palestinian militant group Hamas said it fired two rockets at an Israeli gas installation about 30 km (19 miles) off the coast of Gaza on Wednesday in the first apparent attack of its kind.

A natural gas rig west of Haifa, Israel. – Photo: Albatross Aerial Perspective/AP

The Israeli military said no missiles had struck any gas platforms at sea.

The armed wing of Hamas, engaged in a six-week war with Israel, said on its website it had fired two rockets at Noa, a gas well owned by Nobel Energy and Delek. Continue Reading »

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