Energy Revolution in Israel

Posted by alvina on August 28th, 2018

Since Israel left the Alma oil field in the southern Sinai by signing its peace agreement with Egypt, it became dependent on the other nations including Egypt for its oil requirements, instead of becoming energy independent. Israel has also been an importer of natural gas. However, since 2013 Israel is independent on its own natural gas and has also become an energy exporter for the first time.

Leviathan Field

The most remarkable contributor in the energy revolution in Israel is the Leviathan field, situated around 80 miles off the coast, over 5,000 feet deep in water. Evaluation of Leviathan reveals that there could be as huge as 22 Tcf reserve of natural gas there. The field is expected to be functional by 2019 and the project will cost minimum .75 billion.

Tamar Field

The commercial gas power generation Israel started at the Tamar field situated west of Haifa in 2013’s March. As per the statement of a research firm, Netherland, Sewell & Associates, Inc. in July 2017, the Tamar field consists of 11.2 trillion cubic feet of natural gas, with an extra 14.6 million barrels of condensate. If this statement is taken for granted, it shows a 13% growth from the earlier estimates of the potential yield of the field.

Mari-B Field

Found in 2000, Mari-B field was among the Israeli gas reservoirs that provided the first sizeable volumes of domestically generated natural gas to Israeli markets. However, the production plunged down in 2012 when the field entered its last stages of depletion. During previous years, this field fulfilled up to 40% of the natural gas demands of the country.

Gas for Domestic Consumption and Export

Israel made several deals with its neighboring countries for importing oil and natural gas and now it’s making deals for exporting the same. For example, according to the negotiations made with the Jordan Electric Power Company, Israel will supply natural gas to Jordan until 2031 and will become its largest natural gas supplier.

Though there are some threats to Israel’s energy independence, the country will find a way out and will move towards energy revolution one day.