Israel among 30 leaders in natural gas reserves

Approximately 70 percent of these nations export their gas abroad.

January 24, 2012 23:55
1 minute read.
Leviathan holds 453 billion cu.m. of gas [file]

Leviathan 311. (photo credit: Courtesy of Albatross)


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Israel is among the 30 leading countries in natural gas reserves, and about 70 percent of these nations export their gas, according to data presented on Sunday to the inter-ministerial committee for examining government policies about the market for the fuel.

The data was presented jointly by the PDC consulting firm and the Yarden Group management and investment organization to the committee. The panel is headed by Energy and Water Ministry director-general Shaul Tzemach, and was established in October at the order of Prime Minister Binyamin Netanyahu and Energy and Water Minister Dr. Uzi Landau.

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The committee has been examining the natural gas policies of other countries, and consideration Israel’s unique geopolitical situation and its specific supply numbers. It will offer policy recommendations to the government on February 29, the Energy and Water Ministry said on Tuesday.

Also on Sunday, Noble Energy and the ministry decided that the company would need to slow its natural gas withdrawal from Israel’s only operating reservoir, Mari-B in Yam Tethys off the coast of Ashkelon, despite the unreliability of the supply from Egypt. It is hoped that cuts in extraction will allow the gas to make it through the peak energy months this summer, according to the ministry. Meanwhile, Landau has called for expedited extractions at nearby small reservoirs Noa and Pinnacle.

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