http://www.newenglishreview.org/custpage.cfm/frm/102952/sec_id/102952
In the Middle East, the world’s attention has been diverted by the threat of Iran’s nuclear ambitions and the turmoil of the Arab Spring turning into winter in the Arab Muslim heartland. However, another conflict is rapidly emerging over development of vast natural gas fields offshore in the Levant Basin of the Eastern Mediterranean, which could transform Israel into a major world energy producer and change the geo-political landscape. At stake is who will win control over an energy prize of over 122 trillion cubic feet of natural gas, and more 1.8 billion barrels of recoverable oil according to estimates of the US Geologic Survey. The trigger has been the successful exploratory drilling completed by an Israeli American consortium, Noble Energy, Inc of Houston, Texas and Israeli partner Delek Group, which in 2009-2010 discovered more than 26 billion cubic feet of natural gas in several fields offshore in Israel’s Exclusive Economic Zone (EEZ) off shore in the Eastern Mediterranean. The Tamar, Leviathan smaller gas field discoveries offshore have the potential of achieving energy independence for Israel and creating a major export market across the Mediterranean in the EU. Coupled with the onshore development of more than 260 billion barrels of oil to be developed from shale formations in the Shfela basin, these natural gas discoveries will transform Israel’s economy, that is, if threats by Israel’s Arab neighbors and Turkey permit its secure development with allies Cyprus and Greece, who would share in important gains.
Watch this YouTube video of the visit by US Ambassador to Israel, Dan Shapiro to the pipe-laying vessel, “The Solitaire” contracted by Noble Energy, Inc. to connect the offshore gas fields to on-shore receiving facilities in Israel.
Daniel Yergin, renowned energy expert says in his new book, The Quest: Energy, Security, and the remaking of the Modern World:
Underlying all of this is the recognition that an increasing share of [energy] resources is offshore. When you have energy resources on land you know where things stand. When they’re offshore, things can get murkier.
This looming war over control and development of the Levant Basin offshore gas fields has been given scant attention by the Obama Administration. Halting efforts have been made this summer to reconcile the Maritime border between Israel and Lebanon, now essentially controlled by Iran ally Hizbullah. Instead the Obama Administration has chosen to address the other world energy conflict zone along the periphery in the South China Sea, with dispatch of US Naval contingents to joint exercises with Vietnam, and a Presidential visit to Australia following the recent ASEAN meeting in Honolulu announcing the stationing of 2,500 Marines at a base in Darwin. The lack of attention about the conflicts of offshore natural gas development in the Levant Basin has yet to capture the mainstream media’s attention. However, it has clearly caught the attention of world oil and gas experts ans well as Israeli, Canadian and US business publications along with the press in Greece, Cyprus, Lebanon and Turkey, all of whom are actors in the swirl of competing gas developments in the Eastern Mediterranean region. A region sizzling with daily reports of threats and military show of force to protect these vital energy resources.