Major New Gas Find Off Israel’s Mediterranean Coast– Eran Azran (Ha’aretz)
(dailyalert.org, Dec. 15, 2014)
A new natural gas field off Israel’s Mediterranean coast – the Royee prospect – may hold 3.2 trillion cubic feet (tcf) of gas, its two Israeli partners said Sunday after conducting a 3D seismic survey of the area.
If the estimate is accurate, Royee, located 150 km. (93 miles) offshore, would be the third-largest discovery in Israeli waters, said Israel Opportunity, a partner in the group.
See also Israel Finds More Gas – But Will It Be Extracted?– David Shamah (Times of Israel)
Economists said the Royee gas field may not be developed in the near future because there is so much gas in the Leviathan (22 tcf) and Tamar (11 tcf) fields.
Preparations to extract gas from those fields are already at an advanced stage. The Israel Electric Corporation has a long-term contract to buy gas from the Tamar field.
Yet Israel Opportunity CEO Eyal Shuker is positive that gas from the Royee field will eventually be used in Israel or abroad.
See also Israel’s Gas Offers Lifeline for Peace – Stanley Reed and Clifford Krauss (New York Times)
Half of Israel’s electric power now comes from the natural gas that flows through the Tamar natural gas platform off the coast of Israel.
(Click on the title of any article to see the whole article…Ed.)