An Overview of the Gas Situation in Israel

Posted by alvina on July 24th, 2018

Obtaining natural gas in Israel isn't always smooth sailing. The country has faced much controversy when it comes to the issue of the availability of gas. At the beginning of 2018, natural gas was only coming from the Tamar field. However, this was only the beginning of what was to come.

In an effort to make natural gas more readily available to the country's residents, the Leviathan field began development. It is set to be Israel's largest gas field ever and will hold a maximum of 18.9 trillion cubic feet, with an additional 34.1 million barrels of condensate.

Israel is promoting a deal with Europe ensuring that a pipeline will be built and will allow both access to the gas. However, construction of these pipes will not begin, at the earliest, in 2020. It has been predicted that the project will be completed by 2025. When completed, one end of the pipe will be in the Leviathan and it will run through Cyprus, Greece, and Italy. Upon its arrival in Italy, the gas will be shared with the people of Europe. The cost of the project is expected to be between and billion dollars.

The Leviathan field is expected to allow Israel to become a major gas exporter throughout 2019. The reason Israel wants to export gas is that it will make the country a stronger resource to surrounding countries. Natural gas demands in Israel have dictated that what they are getting from Tamar field is not enough

The estimated value of all natural gas in Israel, whether it is developed or not, ranges from 0 billion to 0 billion. However, developing them also costs billions of dollars. To date, Leviathan has had .75 billion invested in it. Commercial energy partners were brought into the fold in order to handle the challenges that come with developing gas fields.

We’re likely to hear more regarding the natural gas in Israel as the situation is in constantly changes and develops.