BREAKING NEWS

Israel among 30 leading countries with natural gas reserves

JANUARY 24, 2012 20:23

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

The data was presented jointly by PDC consulting firm and the Yarden Group to the committee, which is headed by Energy and Water Minister director-general Shaul Tzemach, and was established in October at the order of the Prime Minister Binyamin Netanyahu and Energy and Water Minister Dr. Uzi Landau. The committee has been examining the natural gas policies of other countries, and taking into consideration Israel’s unique geopolitical situation and its specific supply numbers, 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 Energy and Water Ministry decided that the company would need to slow its natural gas withdrawal from Israel’s only operating reservoir, Mari-B in Yam Tethys, despite the unreliability of the Egyptian supply. Cuts in extraction will hopefully 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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