Egyptian President al-Sissi praised the $15 billion natural gas arrangement with an Israeli energy company that will facilitate Egypt’s move into a regional energy hub with the purchase of 64b m³ of gas to Egypt’s Dolphinus Holdings over 10 years.
By The Associated Press
The Egyptian president declared that his country “scored a goal” by signing a $15 billion deal with an Israeli company to supply natural gas that will help turn Egypt into a regional energy hub.President Abdel Fatah al-Sissi’s televised remarks were the first high-level comments on the deal that fueled controversy on social media.
The project “has a lot of advantages for us (Egyptians). Continue Reading »
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 »
Following third & final series of successful tests, Israel’s offshore gas interests will shortly receive the advanced Barak 8 missile defense system to counter all foreign threats.
By Raphael Poch
Head of the Israel Aerospace Industries (IAI) told Israeli press Wednesday that the newly developed ‘Barak 8’ system which will be installed on Israeli naval ships will be able to protect Israel’s offshore gas assets.
Test of Barak 8 Missile system – Photo: IDF Spokesperson’s Unit
Following the successful tests of the new system in India, Yossi Weiss, CEO of the IAI, said that part of the mission of the project is to protect the Israeli offshore gas assets. Continue Reading »
PM Netanyahu and Energy Minister Shalom authorized agreement to export Tamar natural gas to 2 Jordanian concerns.
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 »
A group of private customers in Egypt calls for a 7-year deal, of a minimum 5 billion cubic meters (bcm) of gas to be sold in the first 3 years.
A group of private customers in Egypt have agreed to buy at least $1.2 billion of natural gas from Israel’s offshore Tamar field via an old pipeline built to send gas to Israel.
The Tamar natural gas field – Photo: Albertos
The Tamar partners said on Wednesday they signed a seven-year deal with Dolphinus Holdings, a firm that represents non-governmental, industrial and commercial consumers in Egypt, that calls for a minimum 5 billion cubic meters (bcm) of gas to be sold in the first three years. Continue Reading »
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.
The Tamar offshore drilling site [Archive] – Photo: Albatross
Energy industry experts hedged Monday that the deal could be worth some $700 million. Continue Reading »
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.”
In early March, the IEC issued a final warning to the PA to pay its debts within three days or get disconnected, a threat that was not carried out due to the publicly-owned nature of the company. Continue Reading »
This is the1st export deal from the Tamar field off Israel’s coast, supplying natural gas over 15 years to 2 separate Jordanian companies.
The partners in the Tamar natural gas field off Israel’s Mediterranean coast signed their first export deal, to sell at least $500 million of gas over 15 years to two Jordanian companies.
The platform at the Tamar offshore gas field. – Photo: Albatross
Under the agreement, Tamar will supply 66 billion cubic feet of gas a year to Arab Potash and its unit, Jordan Bromine – a joint venture with U.S. Continue Reading »
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
The threat: Israel’s recently discovered offshore gas deposits — one of the biggest global finds of the past decade. Continue Reading »
The Lebanese gov’t is about to award offshore drilling licenses in areas that violates Israel’s exclusive economic zone.
By Gil Ronen
Lebanon is homing in on Israel’s territorial waters, according to a report in Globes.
Official Israeli sources told the newspaper that Lebanon is about to award offshore oil and gas exploration licenses in areas that encroach on Israel’s exclusive economic zone (EEZ).
Israel’s “Tamar” oil rig – Reuters
Lebanon published tenders for offshore oil and gas exploration licenses in early September, in five blocks in its EEZ.
It is a highly provocative act which has the potential to greatly inflame hostilities between the two nations. Continue Reading »
Israel’s choice may be between selling gas quickly that may anger the Russians, or looking at a more long-term prospect without alienating the U.S.
Last month, the government of Israeli Prime Minister Benjamin Netanyahu announced plans to export up to 40 percent of the gas from Israel’s Eastern Mediterranean fields, with expected earnings of up to $60 billion over a 20-year period. This is, however, only the first step toward realizing export revenues from Israel’s gas reserves, a process fraught with complicated choices over the route and destination of those exports. Rather than aiming to use its gas for any great geopolitical gains, Israel currently seems happy to avoid unsettling interested parties while it reaps long-term economic gains from its gas bounty. Continue Reading »