Israel Gets The Gas

A huge reservoir of natural gas has been found 80 km (50 mi) off the Israeli coast.

Three massive gas reservoirs have been discovered 80 kilometers off the Haifa coast, at the Tamar prospect, Noble Energy Inc. announced on Sunday.

The Tamar-1 well, located in approximately 5,500 feet of water, was drilled to a total depth of 16,076 feet. The thickness and quality of the reservoirs found were greater than anticipated at the location.

Charles D. Davidson, Noble Energy's chairman, president and CEO, said in an announcement that his company was "extremely excited by the results. This is one of the most significant prospects that we have ever tested and appears to be the largest discovery in the company's history."

Speaking on Army Radio Sunday morning, an exhilarated Yitzhak Tshuva, owner of the Delek Group Ltd, one of the owners of the well, called the discovery "one of the biggest in the world," promising that the find would present a historic land mark in the economic independence of Israel.

There are plans underway to sell some of the gas to other countries. Now wouldn't it be something if Europe became dependent on Israeli natural gas? Especially since Russia cut off natural gas supplies to Europe.

Schools closed, heating shut down and nearly a dozen European nations reported a cutoff of natural-gas supplies in one of the coldest winters in recent memory.

Russia and Ukraine blamed each other in a dispute as bitter as the temperature with a cold front blanketing Europe. Thermometers fell to minus 13 degrees Fahrenheit in some capitals.

Them Russians is not nice people. It will be fun to see if Europe's attitude towards Israel changes should they decide to buy Israeli gas. I think, however, it is more likely that Lebanon or Egypt will become Israel's first customer. With Turkey also in the running.

Israel as a major energy power. That should have interesting repercussions.

Update: 18 Jan 2009 1520z

I have been informed that Israel currently buys its natural gas supplies from Egypt. So I guess Egypt is off the list.

Cross Posted at Classical Values