Tag Archive for natural gas

| May 7, 2014
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Egypt Interested in Importing Natural Gas From Israel

 

Noble Energy hopes to reach final deal within 6 months to sell 2.5 trillion cubic feet of gas, over 15 years, to Union Fenosa Gas SA for its liquefied natural gas facility in Egypt.

By The Associated Press & Israel Hayom Staff

 

The operator of the Tamar natural gas field off Israel’s coast said it has signed a letter of intent to provide gas to a facility in Egypt.

Houston-based Noble Energy Inc. reached the preliminary deal to sell gas to Union Fenosa Gas SA for its liquefied natural gas facility in Egypt. The deal calls for providing up to 2.5 trillion cubic feet of gas over 15 years.

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Category: Israel News | Tags: , , , ,
| April 27, 2014
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Another gas & oil reserve field identified west of Tel Aviv

Situated 50 km off Israel’s coast, the Oz find could be a source of about 600 billion barrels of oil.

By SHARON UDASIN
 

 

A potential new source of hydrocarbons may be sitting just 50 kilometers off the coast of Tel Aviv – with about 2.5 trillion cubic feet (TCF) of natural gas (71 billion cubic meters [BCM]) and 255 million barrels of oil, a new report reveals.

Tel Aviv – Photo: REUTERS/NIR ELIAS

Conducted by international oil and gas consulting firm Netherland, Sewell & Associates, Inc. (NSAI), the report explores the likelihood of finding gas and oils in the 400-square kilometer Oz license. Continue Reading »

Category: Israel News, The Diaspora | Tags: , ,
| April 23, 2014
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Israel Electric Company Wants to ‘Cut Off PA Tomorrow’

IEC chief Yiftah Ron-Tal discusses the energy ‘revolution’ of Israel’s Tamar natural gas fields and the damage the ‘Arab Spring’ caused to Israel’s electricity.

By Yoni Kempinski, Ari Yashar

 

Maj.-Gen. (res.) Yiftah Ron-Tal, Director of the Israel Electric Company (IEC), spoke Thursday at the Ramle Conference on financial policy, where he addressed the Palestinian Authority (PA) electricity debts of 1.4 billion shekels (nearly half a billion dollars).

“If it were up to me, I would cut off their electricity tomorrow,” commented Ron-Tal. “Any private company would have cut off their electricity a long time ago. We’re demanding the PA to pay every last penny.” Continue Reading »

Category: Israel News | Tags: , , , ,
| April 14, 2014
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Israel’s natural gas finds expected to bring regional political benefits

 

Israel’s future natural gas deals could diminish regional tensions, but will unlikely provide Europe with a new, alternative supply for its Russian imports.

By Reuters

 

Israel’s drive to export its new-found natural gas could help to rebuild strained ties with old regional allies Egypt and Turkey, but could deprive Europe of a precious alternative to Russian gas.

Tamar

The platform at the Tamar offshore gas field. – Photo: Albatross

Israel has in recent months already signed energy deals with Jordan and the Palestinian Authority, though relations with the Palestinians are at a low ebb, and now needs to expand its export horizons to cash in on its huge energy discoveries. Continue Reading »

Category: Israel News | Tags: ,
| March 27, 2014
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Australia’s Woodside buys 25% of Israel’s largest gas well, the Leviathan

 

Australian energy firm to acquire 25% ownership of Israeli reservoir in $2.71 billion deal.

By SHARON UDASIN

 

 
Amid months of uncertainty and lack of transparency surrounding Leviathan gas reservoir arrangements, Australian hydrocarbon firm Woodside is expected to sign a $2.71 billion agreement to acquire a 25-percent share of the field on Thursday evening.
Leviathan gas field - Albatross - 09012012

Leviathan holds 453 billion cu.m. of gas [file] Photo: Courtesy of Albatross

The agreement will build upon a memorandum of understanding signed with the reservoir’s partners on February 7, which provided a framework for final negotiations, following months of uncertainty and anticipation surrounding the agreement. An original agreement in principle occurred among the parties in December 2012, which had called for Woodside to acquire a larger, 30% stake of the reservoir.

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Category: Israel News | Tags: , , , , , , ,
| March 7, 2014
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Expert: Israel’s gas to benefit Europe but won’t eliminate dependence on Russia

 

With Israel’s 400 billion cu.m. worth of proven gas reserves that are eligible for export, Europe’s dependance on Russia’s gas is not about to end soon.

By SHARON UDASIN
 
Although a Europe seeking to diversify its natural gas sources could potentially benefit from turning to the Eastern Mediterranean reservoirs, the continent’s dependency on Russian supplies will remain for the foreseeable future, experts say.
Leviathan gas field - Albatross - 09012012

A drilling rig in the Leviathan gas field in the Mediterranean.- Photo: Albatross

Gas exports from Israel to Europe would be “nice to have, but Europe will remain very dependent on Russian gas, and its dependence will probably grow as its own indigenous supplies dwindle,” Gina Cohen, a lecturer at the Technion’s Natural Gas and Petroleum Engineering Graduate Study Program and a consultant in the gas industry, told The Jerusalem Post on Thursday.

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Category: Israel News | Tags: , ,
| February 26, 2014
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Hamas Thinks It Found Gas Field Off Gaza’s Shore

MP in Hamas gov’t claims gas was found just off Gaza’s coast, but Hamas deputy PM isn’t convinced.

By Ari Yashar

 

 

An MP in the terror organization Hamas’s Gaza government reported Tuesday that a natural gas field has potentially been found off the Gaza coast.

Salem Salama, chair of Hamas’s economic committee, said “preliminary tests carried out by experts from the Islamic University suggest that there is a natural gas field near the coast,” reports AFP.

In recent weeks the test were conducted by Hamas after fishermen reported large bubbles in the water roughly 300 meters (just under 1,000 feet) off the coast, reported Salama. Continue Reading »

Category: Mid-East News | Tags: , ,
| February 24, 2014
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Envoy: Israel Invites India to Explore Natural-gas & Sign Trade Pact

Israeli envoy, “Any Indian company is free to participate, private or government-run.” But, Israeli Ambassador to India Alon Ushpiz clarified, Jerusalem bars any company that has dealings with Iran.

By Uttar Pradesh, IANS

 

Noida, Feb 24 (IANS) Israel has invited Indian companies to take part in extracting natural gas from its newly-found reserves, with 40 percent of the produced hydrocarbon reserved for exports, even as it wants talks on a free trade pact to fructify soon.

Israeli Ambassador to India Alon Ushpiz and Chief Secretary S.V. Ranganath at the inauguration of the Israel consulate in Bangalore May 21, 2013 - Photo: Bhagya Prakash K.

Israeli Ambassador to India Alon Ushpiz and Chief Secretary S.V. Ranganath at the inauguration of the Israel consulate in Bangalore May 21, 2013 – Photo: Bhagya Prakash K

Israeli Ambassador to India Alon Ushpiz said his country will soon emerge as one of the biggest producers of natural gas and is willing to export it to India, which imports around 80 percent of its oil needs mostly from the Persian Gulf countries. Continue Reading »

Category: Israel News | Tags: , , ,
| February 23, 2014
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Israel considering gas-pipeline from Mediterranean Leviathan field to Turkey

 

Estimated $2 billion construction cost for pipeline is far cheaper option than building a $10 billion onshore facility for liquefied natural gas in Cyprus.

By Avi Bar-Eli

 

 

The key stakeholders in Israel’s Leviathan offshore natural gas field are to discuss laying an undersea pipeline from the Mediterranean site to the southern Turkish coast, according to the Turkish daily Hurriyet.

Leviathan gas field - Albatross - 09012012

A drilling rig in the Leviathan gas field in the Mediterranean.- Photo: Albatross

The paper reported over the weekend that Delek and the American company Noble Energy, which hold 85 percent of the rights to Leviathan, are to discuss construction of the pipeline with the companies Calik, Turcas, Enka and Zorlu.

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Category: Israel News | Tags: , ,
| February 11, 2014
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Israel’s Natural Gas Fields are Giving Putin Heartache

 

Israel’s gas find offers an opportunity for US interests by helping to secure Middle East peace & undercutting Putin’s pretensions in Europe & the East Mediterranean.

By Arthur Herman

 

If you think Vladimir Putin has enough worries on his plate dealing with the Sochi Olympics debacle, the turmoil in Ukraine and Russia’s sputtering economy, think again. A new potential source of trouble is brewing out in the eastern Mediterranean — one that could not only undermine Putin’s efforts to rebuild Russia’s influence in the Middle East, but his current strong hand in Europe.

Russian President Vladimir Putin - Photo: AP

Russian President Vladimir Putin – Photo: AP

The threat: Israel’s recently discovered offshore gas deposits — one of the biggest global finds of the past decade. Continue Reading »

Category: Israel News, The Diaspora | Tags: , , , ,
| January 31, 2014
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Signed Israeli-Palestinian gas deal still bogged down in politics

 

Agreement signed earlier this month involving Israel’s natural gas field and Palestinian power firm, may need top-level gov’t support to succeed.

By Reuters

A billion-dollar deal signed this month involving an Israeli natural gas field and a Palestinian power firm marked a rare private-sector victory over political conflict, but it may need top-level support to succeed.

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

The Tamar gas rig off the coast of Israel – Photo: Albatross Aerial Perspective/AP

Palestinian officials say implementation will depend on guarantees by the governments of both sides, whose mutual distrust has grown amid troubled US-backed peace talks.

The deal’s Palestinian backers say Israel has pledged that any future political or security crisis will not interrupt the gas supply. Continue Reading »

Category: Israel News | Tags:
| January 24, 2014
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Abbas In Russia for $1Billion Energy Deal for Gaza

Report speaks of Abbas & Russian PM to sign agreement on a $1Billion Mediterranean natural gas project off the Gaza coast.

By AFP

 

Moscow  – Palestinian leader Mahmud Abbas sought on Thursday to secure a billion-dollar Gaza energy deal during talks with Russian leaders aimed at restoring warmer ties between the two Soviet-era allies.

Abbas and Russian Prime Minister Dmitry Medvedev were due to sign an intergovernmental agreement that reports said included a $1.0-billion (730-million-euro) natural gas project in the Gaza section of the Mediterranean Sea.

The state ITAR-TASS news agency said Russia’s natural gas giant Gazprom hoped to produce 30 billion cubic metres of natural gas at the site. Continue Reading »

Category: Mid-East News | Tags: , , ,
| January 9, 2014
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Zion Oil & Gas Expands Its Drilling in Israel

Zion Oil & Gas moves to next phase of its ongoing efforts by expanding to find oil experts increasingly are convinced lies under the Megiddo-Jezreel Valley

By Ryan Jones

 

 

Zion Oil & Gas Inc. announced on Wednesday that it had, after several years of preparation, entered the next stage of its exploratory activity in Israel.

Christian Oil Company Resumes Drilling in Israel

Exploratory drilling rig – Photo source: Israel Today

On Sunday, the company began performing a perforation and stimulation operation at its Elijah #3 well in Israel’s northern coastal region, just south of Haifa.

Zion Oil & Gas explained the operation, which it is obligated to perform under its license agreement with Israel’s Petroleum Commissioner, as “a key method of obtaining information on the formation fluid and establishing whether a well has found a commercial hydrocarbon reservoir.” Continue Reading »

Category: Israel News | Tags: , , ,
| December 18, 2013
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NEW FIND: Nobel Oil reports another oil find for Israel

Israel’s Off-Shore Leviathan Oil Field May Contain 3 Billion Barrels of Oil.

A Noble analysts reported that drilling will not begin before the end of 2014.

By: Jewish Press News Briefs

 

Noble Energy now estimates that that its Leviathan oil field discovery in Israeli and Cypriot waters may contain up to 3 billion barrels of oil, double the previous estimate that did not include Block 12 off of Cyprus.

mapworking_HWeb

The same field also ready has been determined by Noble and its partner Delek to contain 19 trillion cubic feet of natural gas and another 4 trillion at Block 12. At today’s prices, the value of the potential oil field is nearly $3 billion. Continue Reading »

Category: Israel News | Tags: , ,
| November 10, 2013
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Palestinian Authority Drilling for Oil in Judea and Samaria

The Palestinian Authority reported Saturday it will start drilling for oil in Judea & Samaria, and plans to sign contracts with British companies on coastal gas exploration.

By Dalit Halevi, Ari Yashar

 

The Palestinian Authority (PA) announced Saturday it will start searching for oil near Rantis, a town north west of Ramallah and just east of the 1949 Armistice line. The PA further claimed contracts will be signed with British companies in the coming weeks to produce natural gas from sea reserves off the Gaza coast.

On Saturday Palestinian Deputy Prime Minister for Economic Affairs, Mohammed Mustafa, said that the PA is in the final stages of preparation before advertising bids internationally to drill for oil in Judea and Samaria. Continue Reading »

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