Israeli Gas Find Could be Game Changer
http://www.realclearenergy.org/charticles/2013/11/04/is_israeli_gas_field_a_game_changer_107323.html
Motley Fool is waxing enthusiastic about the offshore finds in natural gas that Noble Energy has recently made for Israel. “In 2010, Noble Energy and its partners found something in Israel’s offshore region that the country had been looking for since the oil embargoes of the 1970’s; its own hydrocarbons. . . . The Tamar and Leviathan fields are estimated to have as much as 30 trillion cubic feet of natural gas, which is enough gas to supply Israel for decades even if it were to convert all of its energy consumption from coal and oil to natural gas — with enough left over to export. Noble Energy estimates that this gas field and the planned export projects could net the country more than $130 billion in energy savings and government revenue from gas royalties.” The U.S. Geological Survey also estimates there are 600 million barrels of recoverable oil in the field. Cyprus is also sharing this bounty. Not only will the field turn Israel from an importer to an exporter of hydrocarbons, the find also has the potential of supplying Europe, freeing it from dependence on Russia and Qatar. The potential for political realignment are enormous.
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