Noble Energy VP: Israel natural-gas market expands, demand continues to grow

“Today, at peak days, we are supplying fuel for 78% of Israel’s electricity production.”

By MAAYAN HOFFMAN
May 1, 2018 05:30
1 minute read.
Noble Energy VP: Israel natural-gas market expands, demand continues to grow

Bini Zomer. (photo credit: Courtesy)

 
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This has been a great year for Noble Energy in Israel, said Bini Zomer, vice president of regional affairs, via a video interview on Sunday.
Speaking to the audience of the Jerusalem Post Annual Conference in New York, Zomer said Noble Energy has seen increased demand in the last 12 months.

“Today, at peak days, we are supplying fuel for 78% of Israel’s electricity production,” he said, which is up from 60% last year. “This year, we are moving over 70%, and that has been really terrific. We see that demand is continuing to grow.”

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Zomer said Noble is continuing to expand, as it focuses not only on continuing its already reliable supply of gas at Tamar gas field but developing Leviathan.

“We are more than 40% into the Leviathan project,” he said . “Things are right on track for the first gas to flow before the end of 2019.

Today, we are drilling and completing our wells; laying pipeline from the field to the area where the platform will be; and building the platform in Texas that should be here by the middle of next year.”

Noble has also signed regional contracts to supply gas to Egypt and Jordan. Zomer said those deals are “significant.”

“It means there are regional markets and demand,” he said. “This is not only good for Israel from the perspective of improved ties between Israel and its neighbors, but also companies looking to invest in exploration in Israel will see there are regional markets here and opportunities to monetize gas.”

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This, he said, would mean more infrastructure for Israel.

“Israel is a remarkable success story,” Zomer said. “I think the achievements we have had as a country in a very short amount of time are unprecedented – certainly in modern history, maybe ever. I wish Israel continued success.”

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