Israel game changer: Natural gas find off Hiafa largest worldwide in 10 years

Israel is about to become a player in the world energy market.

...Noble Energy, a US-based oil and gas firm, along with its Israeli exploration partners, have confirmed the discovery of a huge offshore gas field called Leviathan, 130km off the coast of the Mediterranean port of Haifa.

Delek Energy, one of the Israeli partners, said on Wednesday that the discovery was the largest deepwater natural gas find in the world in the past decade.

Leviathan is estimated to have 450 billion cubic metres of gas and could transform Israel into an exporter of gas...

Now that Israel has something the Europeans want, and they'd probably be less inclined than Master/Blaster to declare "embargo on" compared to say...the Russian mob, this new year promises some interesting ummm..."modifications" of European positions towards Israel.

posted by Purp at 05:01 AM

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