Huge Israeli Gas Find Even More Massive Than Expected

[IconOfEvi]

If the us needs oil they can send few strike groups and invade iran

We could you know...also drill at home or something...

[alexz]

I see a gun. What happens when "nonviolent peace activists" start cruising up to the rig to shut it down and prevent the theft of oil and gas from Arab waters?

I honestly don't see how it would be possible to secure a large offshore rig without eventually killing people and facing the wrath of international condemnation.

I mean, do you think we'd still be getting oil from Nigeria if the MEND has as much international support as Hamas does?

We are talking Oil and Gas. When the world needs it they'll become your best friend.

[RoyB]

Hold your horses, guys.
This might as well be a major disappointment.. We ain't an oil principality yet.

[Mr Gently Benevolent]

We are talking Oil and Gas. When the world needs it they'll become your best friend.

Not wanting to be a wet blanket here but these finds have been talked up considerably by the Tamar people especially by Yitzhak Tshuva I hardly think the world will be banging on Israel’s door when you put Israel’s oil and gas spend last year was $12.8 billion and this current find is worth $15 billlion over its lifespan. The early finds are expected to run dry in 2012 so we are not talking large fields and with the Egyptian (excellent fixed price supply) gas pipe having constant technical issues I would imagine the Israeli spend on fuel imports increasing over the next few years. No positive impact on the Israeli economy by this find for maybe 5 years minimum

[tanks_alot]

Hold your horses, guys.
This might as well be a major disappointment.. We ain't an oil principality yet.

But i already ordered the construction of a skyscraper as a phallic symbol...

[realityexists]

What an amazing timing, when Turkish government suspended project with Israel to line gas pipe from Turkey to Israel

Kinda seems predestined, doesn't it?

Kidding aside, I am sure that's how some religious people will frame it, actually the talks in this thread about Israel becoming rich in gas and oil made me recall something I came across while browsing TV channels one day:



Around 7:20 this man mentions that biblical prophecy as he reads it, says that Israel will discover oil and of course this confirms his belief that the biblical end times are near

[Beholder]

Not wanting to be a wet blanket here but these finds have been talked up considerably by the Tamar people especially by Yitzhak Tshuva I hardly think the world will be banging on Israel’s door when you put Israel’s oil and gas spend last year was $12.8 billion and this current find is worth $15 billlion over its lifespan.

Tamar worth $15 billion.

http://www.globes.co.il/serveen/glob...564177&fid=942

"In total, Noble Energy's discoveries represent approximately 35 years of Israel's natural gas needs at projected 2012 demand rates. The capital investment for Tamar is estimated at $2.8 billion gross. Deutsche Bank analyst Richard Gussow said that since the Tamar project is expected to supply Israel with its natural gas needs for the next 3 decades, a discovery at Leviathan, should there be one, would be earmarked for export. Export the gas would likely be through LNG (liquefied natural gas), which Gussow calls a long-term process that would take at least 6 years and would require heavy capital expenditure. "

Leviathan is much bigger,then Tamar.But its all about gas.Oil is not in this calculations.They say that they think there is oil there,but its not discovered yet.

[deathil93]

Tamar worth $15 billion.

http://www.globes.co.il/serveen/glob...564177&fid=942

"In total, Noble Energy's discoveries represent approximately 35 years of Israel's natural gas needs at projected 2012 demand rates. The capital investment for Tamar is estimated at $2.8 billion gross. Deutsche Bank analyst Richard Gussow said that since the Tamar project is expected to supply Israel with its natural gas needs for the next 3 decades, a discovery at Leviathan, should there be one, would be earmarked for export. Export the gas would likely be through LNG (liquefied natural gas), which Gussow calls a long-term process that would take at least 6 years and would require heavy capital expenditure. "

Leviathan is much bigger,then Tamar.But its all about gas.Oil is not in this calculations.They say that they think there is oil there,but its not discovered yet.

If there is gas, there is defenitly oil, like smoke and fire they come together. The question is how much oil is out there? is it enough for both export and home usage or only for home usage?
I say we should keep as much of it as we can for ourselfs to have as little energy dependence as possible, but if the reserves are large enough to supply both home and export needs, than I say we should go for it.

edit:
If I think correctly, those 16 trillion cubic feet of natural gas are worth around $28.2 billion

[Ren987]

Looks like the new gas finds are just the beginning. There seems to be a lot more gas as well as oil than previously thought offshore Israel.

Quoting the recent report of the US Geological Survey from April 2010, it estimated that the undiscovered recoverable gas and oil resource of the Levantine basin at 122 tcf of natural gas and 1.7 billion bbl of oil (middle range estimate). The upper range estimate is at 227 tcf of gas and 3,7 billion bbl of oiL. That would put the region's natural gas reserve on part with Iraq for the middle-range estimate and to UAE, the US at the upper-range.

From the different maps I looked at, the israeli exclusive economic zone encompass a respectable slice of the Levantine Basin region. That would mean we can safely put that Israel is on the way of being energy independent for a very long time and a net exporter as well. Behond the heavy investment needed to harness these ressources and to protect the infrastructures once the gas flow on, beware of the Dutch disease.





For those interested, here is the pdf report:
http://pubs.usgs.gov/fs/2010/3014/pdf/FS10-3014.pdf

http://www.ogj.com/index/article-dis...sin_given.html

[xav]

^ Is Gaza gonna claim some of the gas?

[GiladS]

^ Is Gaza gonna claim some of the gas?

Lebanon has made a claim over the field if I'm not mistaken.

[IconOfEvi]

If there exists a party, someone must crash it

[zaher]

Lebanon has made a claim over the field if I'm not mistaken.

Nop, Lebanon said if studies find that any field extends to inside the Lebanese waters, Lebanon should have a share.
Lebanon is not stupid to claim things that are clearly not in its water, and it won't also have any interests in them

[GiladS]

Nop, Lebanon said if studies find that any field extends to inside the Lebanese waters, Lebanon should have a share.
Lebanon is not stupid to claim things that are clearly not in its water, and it won't also have any interests in them

Good to know.

[IDF_TANKER]

Nop, Lebanon said if studies find that any field extends to inside the Lebanese waters, Lebanon should have a share.
Lebanon is not stupid to claim things that are clearly not in its water, and it won't also have any interests in them

I dunno, man, with hezzies in your government I expect them to make claim for cookies in my cookie jar.