Israel ‘Super Gas’ Field is World’s Largest in 18 Months

[Christian Zionist]

Israel ‘Super Gas’ Field is World’s Largest in 18 Months

The Tamar gas field, 50 miles off the Haifa coast, keeps getting bigger with every report, and the gas discovery now is estimated to be the world’s largest in 18 months. The Scotland-based Wood Mackenzie research and consulting firm assessed the value of the field at $8 billion, approximately double that of local analysts.

The latest upside projection comes less than two weeks after another revised estimate that the reserves are 16 percent higher than previously thought.

Changing gas prices could make the gas worth anywhere between $3.5-$17 billion in the future, and partners in the offshore project are preparing for the first deliveries of gas in 2012. They have approved expenditures of $230 million for equipment and services to be provided by Noble Energy, a partner in the project, along with Israeli firms Delek Drilling, Avner Oil and Gas and Isramco.

The future impact of the gas field on the Israeli economy is enormous. "Few doubt that the country, which for decades has been dependent on importing nearly all of its energy needs, has entered a new era of far greater economic independence,” Business Week commented in its current issue.

Delek official Yitzchak Tshuva jubilantly announced after the discovery that Israel is on the road to energy independence. Tshuva and other project participants stated, "We have already sufficient Israeli natural gas to meet all of the country's needs for many years, and we intend to continue searching in our many franchises off the Israeli coast.”

The area of the gas discovery has largely been unexplored, leaving open the possibility of more finds, perhaps even of oil. Delek Drilling's Tzvi Greenfeld said, "If we find more gas, then there is a greater chance Israel will become an exporter."

The multi-billion infrastructure work for new sea-to-land gas lines and for a 500-kilometer long (311 mile) distribution network will create hundreds of jobs for engineers and workers. The move to gas from oil and coal will help diversify the economy, Ohad Marani, board chairman of the state-owned gas distribution network told Business Week.

The Finance Ministry will enjoy approximately $5 billion in royalties when gas starts flowing, estimates Gal Reiter, energy industry analyst at Clal Investments. Furthermore, Israel will drastically cut back the $5 billion it pays for fuel imports, leading to stronger balance of payments.

An era in which Israel will be more self-sufficient in energy needs also will help make the shekel more attractive. Cheaper foreign currencies will help lower the price of imports for consumers but could cause further problems for the exporters, whose profits are dented after income in dollars and euros is exchanged for shekels.
 (IsraelNationalNews.com)

[Ben m]

this is great.i hope their would be a war with lebanon on the gas field.this will shut the lebanese mouth for a decade at least.

[Muck DeFuslims]

" Delek official Yitzchak Tshuva jubilantly announced after the discovery that Israel is on the road to energy independence. "

Had Israel not surrendered the oil fields she discovered and developed in the Sinai, the 'road to energy independence' would have already been traveled and it's benefits enjoyed.

I have heard that one of the provisions of the accord with Cairo, was that the USA would guarantee fuel delivery to the Jewish State - an absolute necessity in the event of a prolonged war.

Alas, we should now realize that American 'guarantees' can easily become as worthless as the 'peace' treaty with Egypt.

Therefore, it is essential that Israel quickly develop this source of energy and leave absolutely no doubt that it is the sole proprietor of the Tamar reserves.

Does anyone know if compressed natural gas can somehow be used in military applications to power Merkavas or aircraft ? 

Also, does Israel have a strategic oil reserve ? What is it's capacity ? Does Israel possess enough oil refineries to completely meet the needs of the nation in the event of unforeseen developments ?

If we're talking energy independence, then let's be 100% independent. Israel should never rely on any other nation for anything. 

[cjd]

The gas field is a great benefit.... Natural gas will run tank, truck and even car engines with modifications in the fuel delivery and storage systems. The thing is natural gas is not a thing that goes well with people shooting at it and would have to be strongly shielded. The fuel tank needed for natural gas would also need be much larger then the one for fuel oil which may make it impractical.

[White Israelite]

" Delek official Yitzchak Tshuva jubilantly announced after the discovery that Israel is on the road to energy independence. "

Had Israel not surrendered the oil fields she discovered and developed in the Sinai, the 'road to energy independence' would have already been traveled and it's benefits enjoyed.

I have heard that one of the provisions of the accord with Cairo, was that the USA would guarantee fuel delivery to the Jewish State - an absolute necessity in the event of a prolonged war.

Alas, we should now realize that American 'guarantees' can easily become as worthless as the 'peace' treaty with Egypt.

Therefore, it is essential that Israel quickly develop this source of energy and leave absolutely no doubt that it is the sole proprietor of the Tamar reserves.

Does anyone know if compressed natural gas can somehow be used in military applications to power Merkavas or aircraft ? 

Also, does Israel have a strategic oil reserve ? What is it's capacity ? Does Israel possess enough oil refineries to completely meet the needs of the nation in the event of unforeseen developments ?

If we're talking energy independence, then let's be 100% independent. Israel should never rely on any other nation for anything. 

Israel possesses negligible oil sources.

Mari-B is their primary offshore field right now, that went into production in 2004.

Currently their consumption exceeds their production.

http://www.indexmundi.com/israel/oil_production.html

Israel’s per capita oil consumption of 0.043 barrels per day ranks 35th in the world, according to the CIA’s World Factbook. In the past, Israel imported oil from Egypt, the North Sea, West Africa, and Mexico. According to officials at the Ministry of National Infrastructures, Israel now imports 90% of its oil from Russia and the Caspian region.
Israel consumes about 80 million barrels of oil annually – 270,100 barrels per day – 42nd of 211 countries.

[Meerkat]

Here's energy independence for you: develop cheap solar and wind power. That will not only make Israel 100% energy independent, it will also bankrupt the Arab Muslim Nazi's.

[Debbie Shafer]

I heard of this.  Israel's wealth will be the Hook in the Jaws that allows G-d to bring in the Islamic nations whom he will destroy!