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New Israeli gas line underway

March 31, 2013

Israel has begun receiving gas from a large off-shore reservoir, four years after drilling initially started. The project is designed to reduce the country’s energy dependence and boost the economy.

https://p.dw.com/p/187V6
MEDITERRANEAN SEA, ISRAEL - MARCH 28: In this handout image provided by Albatross, The Tamar drilling natural gas production platform is seen some 25 kilometers West of the Ashkelon shore on March 28, 2013 in Israel. The offshore Tamar drilling site which was originally dispatched from a shipyard in Texas at the end of last year is due to start producing natural gas next week. Over the past few years Israel has suffered from a shortage in natural gas, but with the new platform that weighs 34,000 tons and will be mainly operated by Israelis, the US company Nobel Energy which owns a 36% stake in Tamar, hopes to change Israel's energy situation as well as the economy as a whole. (Photo Photo by Albatross via Getty Images)
Image: Getty Images

Natural gas from the Tamar field off Israel's Mediterranean shores began flowing on Saturday at 4 p.m. local time (1400 GMT), the Israeli Energy and Water Ministry said.

"Today we are really in a new era," Energy Minister Silvan Shalom said.

The Tamar field, discovered in 2009, is located 90 kilometers (56 miles) off Israel's northern coast and has an estimated 10 trillion cubic feet of gas - enough to meet the country's gas needs for decades.

The discovery led to further exploration in the Levant Basin, uncovering an even bigger find – Leviathan - which prompted Israel to set up a natural gas wealth fund.

The production partners, who invested $3 billion to develop the field, estimate that the new gas line will save Israel's economy 13 billion shekels ($3.6 billion or 2.8 billion euros) per year.

'Step towards independence'

Development of the Tamar and Leviathan fields will not only make Israel less dependent on energy imports, it will also allow for a significant amount of its natural gas to be exported.

The Israeli treasury said it is hoping to earn 450 billion Israeli shekels (about $123 billion or 96 billion euros) from the gas over the next 25 years.

In a statement issued by his office, Israeli Prime Minister Benjamin Netanyahu hailed the achievement.

"We are taking an important step towards independence in the energy sector. In the past decade we have promoted Israel's gas sector and this will enhance Israel's economy and benefit all the country's citizens," he said.

Texas-based Noble Energy holds 36 percent of Tamar. Isramco Negev owns 28.75 percent with Avner Oil Exploration and Delek Drilling holding 15.625 percent each. Dor Gas Exploration has a 4 percent stake.

hc/slk (Reuters, dpa)