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Big Natural Gas Find Sparks a Frenzy in Israel

mbig

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We've been aware there has been Natutal Gas found off Israel for some time.
Recent estimates of it's size however are making for even greater excitement and a potential shift in politics of I-P conflict and the greater region.

Big Gas Find Sparks a Frenzy in Israel - WSJ.com
CHARLES LEVINSON/GUY CHAZAN
Deember 30 2010


Operations in Noble Energy's Leviathan gas field, the world's biggest deepwater gas find in a decade.




Larger interactive graphic at:
Big Gas Find Sparks a Frenzy in Israel - WSJ.com
 
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The problem with natural gas unlike oil that you can't export it over great distances, usually its exported to neighboring countries via pipe lines, and as Israel's neighboring countries are unlikely to import gas from Israel, the only benefits from this discovery is for Israel's citizens (gas costs), Israel will become independent in power generation (The IEC will not have to import energy sources) and the enviroment (manufacturing electricity from gas is more friendly). I can't see how this finding influence "potential shift in politics of I-P conflict and the greater region"
 
Natural gas can indeed be exported great distances. The gas is liquefied via cryogenic technology and transported via special tanker ships. It is then re-gasified at the destination terminal. Malaysia, South Korea, Japan, and China are the largest importers of LNG and global demand is expected to increase 6% annually through 2020. The biggest current obstacles are... double-hulled LNG ship construction has fallen behind demand and the high construction costs of building new processing terminals.

 

I should rephrase, it CAN be exported but the costs of shipping natural gas makes it not worthwhile, its cheaper to import oil or coal than gas, this is why usually gas is delivered in pipe lines and not shipping. If new and cheaper means of shipping gas will come it will be much more popular than coal.
 
The UK has three LNG terminals. Cryogenic shipping of LNG is indeed economical and does not suffer from the terrorist threat to fixed pipelines. Most of our LNG currently comes from Quatar, but shipping gives the flexibility to vary the sources.
 
Manc Skipper said:
The UK has three LNG terminals. Cryogenic shipping of LNG is indeed economical and does not suffer from the terrorist threat to fixed pipelines. Most of our LNG currently comes from Quatar, but shipping gives the flexibility to vary the sources.
Click to expand...
Qatar currently has the largest LNG fleet, but China and Korea are now building LNG ships at an increased pace. Due to an insatiable demand for alternate energy sources, Southeast Asia is importing ever greater amounts of LNG and this trade is expected to double during the next decade.
 
mbig said:
Recent estimates of it's size however are making for even greater excitement and a potential shift in politics of I-P conflict and the greater region.
Click to expand...


I think the biggest potential benefit to Israel would lie in their ability to create trading partnerships with western European nations and the resulting shift in the way these countries media might present the middle east. As it stands, oil is one of the driving forces behind Western Europe's very much slanted attitudes towards the middle east, so perhaps having something they need can help balance things out, if even just a little.
 
I have to agree with ido here; I don’t see how this has much, if anything, to do with the Palestinians.

Hopefully Lebanon can find a huge gas well like this off its shores too.
 
GPS_Flex said:
I have to agree with ido here; I don’t see how this has much, if anything, to do with the Palestinians.

Hopefully Lebanon can find a huge gas well like this off its shores too.
Click to expand...

They prefer to take the easier way and just claim that the natural gas Israel found belongs to them.
 
Apocalypse said:
They prefer to take the easier way and just claim that the natural gas Israel found belongs to them.
Click to expand...

Happy New Year to you and yours Apocalypse.
Is your assertion based on any facts or is it just contempt towards Lebanon ?
 
Mira said:
Happy New Year to you and yours Apocalypse.
Is your assertion based on any facts or is it just contempt towards Lebanon ?
Click to expand...

Why would it not be based on facts?

After Lebanese media rushed to declare last week that Israel's offshore natural gas fields actually belong to Lebanon, Hezbollah also weighed in and warned Israel not to touch what it called Lebanon's resources.
Click to expand...

Hezbollah: Offshore gas is Lebanese - Haaretz Daily Newspaper | Israel News

Happy new year.
 
Well... I really do hope that this gas isn't going to be the new curse.

This article explains more

ISRAEL, LEBANON: Politicians trade threats over right to gas reserves | Babylon & Beyond | Los Angeles Times

Legally speaking, the field lies beyond the territorial waters of either country, which only extend 12 nautical miles (about 14 statute miles) offshore. Countries can declare an exclusive economic zone up to 200 nautical miles from shore, but neither country appears to have done so. One Israeli expert told the Israeli newspaper Haaretz that because the oil is under the Israeli continental shelf, there is no need to declare a stake.

Disputes like this are usually either worked out between the two countries or settled in international arbitration. But as enemy states, Lebanon and Israel could not come to such an agreement, and until Lebanon comes up with enough cash or investors to do its own oil and gas exploration, there isn't much it can do.
 

Good moring Mira, its been like this for over a year since the discovery of the Tamar site.
happy new year
 
Overall if the gas fields are quite a bit futher south then the Israeli Lebanon boarder then there is no question of who the gas fields will belong to. If however the gas fields lie around the same latitude as the Israel Lebanon boarder then there will be a question about who and to whom how much of the gas fields will belong to ( the same issue will of course apply to the Gaza strip of course.

Looking at the map for the gas fields I would suggest Lebanon might have claim to a small portion of Tamar and Leviathan (depending on the actual extent of the fields

Gaza on some of Mara and Noa

While Egypt might have some claim to Noa

Dalit by the looks of it would be 100% Israeli

(all proportional claims and not full 100% ownership claims
 
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Ah its decided by the latitude co-ordinate ? does it mean Egypt, Lybia and other northern africa countries have no claims for findings in the Mediterranean? Anyways the picture attached in the OP shows the findings are south of the border but I'm not sure how accurate this chart is...
If you examine airspace for example, look where is the border between Cyprus and Israel or Cyprus and Lebanon, what does latitude have to do with it? They have a huge Airspace that covers most of the eastern part of the sea.
Airspace diagram
 
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ido_ said:
Good moring Mira, its been like this for over a year since the discovery of the Tamar site.
happy new year
Click to expand...

happy New Year to you as well

It's been like what for over a year ?

Hoping that the dispute will be solved peacefully.
 

Given that the boarder between Lebanon and Israel is fairly horizontal when it meets the sea, using latitude would for a laymen be rather sufficient in determinining what the 200 mile exclusive economic zone would be.

Of course if Israel and Lebanon can not come to an agreement about the 200 mile exclusive economic zone in what would be disputed areas an international court would most likely be required to determine ownership of the disputed fields (or % of
 
The maritime border of Israel and Lebanon has never been agreed upon. Lebanon invokes a straight-line approach whereas Israel factors-in earth curvature. This is usually a question that is settled either via mutual arbitration or by an international court. The northern extent of Leviathan and Tamar is unknown, but the current field appears to be about 90% Israeli using the Lebanon metric and 100% Israeli using the Israeli metric. It is also possible that the Cyprus maritime EEZ extends to the northern margin of the fields.

In addition to the 16 trillion cubic feet of natural gas at Leviathan, Noble Energy estimates that the field also contains 4.3 billion barrels of oil.
 
Interesting info above.

In regards previous points here....
NG is typically more a local commodity than Oil.
Some companies areas without huge deposits have actually shut gas (in favor of liquids) due to low prices.
There's an NG glut right now and the future of NG looks for it to stay plentiful due to all the upcoming 'shale plays'.... the hottest item in the USA energy market.
Google, ie, Marcellus shale which makes the NE USA another potential surprise large producer.
And probably plentiful elsewhere.

Israeli gas find portends security but not exports

Tova Cohen/Wash-post
December 31, 2010


Interesting too....
What if Gas is found off, ie, Gaza. Looks very close already.
Does that raise the chances of a '3-state' solution? Probably not, but I think it would strengthen Hamas' hand in the battle for who rules Palestine.

Israel an O&G power!
This must be a shock to some OPEC members who view oil as divine gift and oil a natural Jizya tax on a world of Dhimmis.
 
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There were no findings of gas reserves near Gaza yet as far as I recall... most of the findings are up north and there are 2 smaller findings close to ashkelon
 
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ido_ said:
There were no findings of gas reserves near Gaza yet as far as I recall... most of the findings are up north and there are 2 smaller findings close to ashkelon
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I don't think you are right there ido. I read a considerable amount about gas which had been found in Gaza's waters before Cast Lead and before any talk of their being Isaraeli/Lebanon gas/oil but I have not time to get into it now. Did you read the article I gave?
 
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Yes and again, I've never heard of such findings but after googling abit I found that back in 2004 Israel bought NG from this company and that the PA owns somthing like 10% from those sites. Anyways, the idea that Israel wants to takeover Gaza for these sites is absurd.
 

ido said:
There were no findings of gas reserves near Gaza yet as far as I recall... most of the findings are up north and there are 2 smaller findings close to ashkelon...
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ROFL indeed. YOU went from the sure and Hostile "This is a Joke isn't it"/"ROFL", to the meek, "I don't think you are right there ido."
Quite a swing.

As it turns out, there was gas found of Gaza (I thought I had heard something about it in the past too after I mentioned it. Perhaps that's why it even came to mind)
Your article struck me as an odd source and and I went and found a fairer less Hostile one from a knowledgable Arab Daily.
The UAE's national.
Israel and BG in talks over Gaza's gas field - The National
Yeah, I had to go to an Arab source to get more sober coverage of the situation than one of your bigots.

Your author, yet another Raging anti-Israel jerkoff and the piece filled with gratuitous Israel-blaming/bashing.
(here's another of his screeds, you'll love it. Gaza debate: Don't be fooled by Israel's shocking crime says Matthew Carr | News & Politics | News & Comment | The First Post.

Israel wants to pay less than world market price for the gas.. as is Often the case with small Local finds with few other outlets.
I owned shares in several small Canadian producers who shut down NG production more than a year ago because of low prices and few local buyers.
Prices have tumbled in the last few years.
Natural Gas Futures Chart - Long-Term Commodity Chart
NG is probably at all time lows in real dollar/currency terms, despite $92 oil.

Since Israel is Apparently the only real buyer in the area, it stands to reason they are in a good bargaining position. Egypt has alot of gas and seems to have passed.
It's also understandable if they didn't want to Help Hamas (or Arafat's PA which started an Intifada in 2000) and to find their own....
Which they since Have. (Hark and Mazel Tov)
 
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