Jan 6 2014
While the left wing BDS anti-Israel activists in the USA and Europe won’t buy a tube of Dead Sea face cream or oranges or dates or any state-of-the-art technology produced in Israel, the Palestinian Authority will now be purchasing $1,200,000,000 worth of natural gas from Israel!
Energy Tribune First it was two major offshore natural gas field discoveries. Now it’s an ambitious plan to exploit Israel’s massive shale oil deposits in the Shfela Basin. The gas finds alone will make the country self-sufficient in natural gas for decades and debut Israel as a key regional energy exporter. The latter, if successful, would quite simply catapult Israel into the energy superpower league.
The drilling partners behind Israel’s large Leviathan gas reservoir have sealed their first export deal for the basin – a $1.2 billion sales agreement with the Arab Palestinian Power Generation Company. According to the agreement, signed at the American Colony Hotel in Jerusalem on Sunday, PPGC will buy around 4.75 billion cubic meters of gas for a period of 20 years, to fuel a future power plant in Jenin with a 200-megawatt capacity.
Nobel Energy has announced results from its second Leviathan appraisal well located in the Rachel license offshore Israel. These results have enhanced the Company’s understanding of the reservoir, which has led to an increase in the estimated recoverable gross mean resources of the field to 18 trillion cubic feet (Tcf) with a range of 15 to 21 Tcf.
“This is a dual historic event: the first contract to supply gas from the Leviathan reservoir, which is Israel’s largest natural gas reservoir, and the first contract to export gas for the sale of natural gas to a company in the Palestinian Authority,” said Gideon Tadmor, chairman of Delek Drilling and CEO of Avner Oil Exploration.
“The Leviathan project is expected to have a significant positive impact on the Israeli economy and on its geopolitical positioning. We hope that following the signing of the contract today, more export contracts will be signed with neighboring countries.”
American Thinker Ever since Moses took the Israelites out of Egypt critics have grumbled he took the wrong road by going through Sinai on the way to the Promised Land and thus missing the petrochemicals and oil fields in the area. Since its establishment, Israel has drilled more than 400 wells in unsuccessful efforts hoping to find oil. Now we have extraordinary announcements of recent findings starting with the discovery, 50 miles off the Israeli coast, of natural gas in 2009 that will make Israel one of the world’s energy powers. Moses was right and an apology is due to him.