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Israelís Thriving Era of Gas Ė Is the Country Ready to Join the Gas Race?
Being traditionally bare of much-needed natural resources and short on primary materials, for years the country of Israel has built its economy from downstream industries. In the past, the nation has also relied heavily upon external imports to meet the majority of its energy needs and demands. But after previous attempts of unsuccessful explorations, massive offshore natural gas reserves were discovered in the country. And, with this newly found abundant Israeli gas fields, the nation is entering a new era of gas and hoping to change the country’s overall economic standing.
The estimated 2.4 trillion cubic feet of natural gas found lying in the gas fields of Karish and Tanin is expected to turn Israel into an energy-independent nation – a significant milestone in the history of the nation.
Previous Gas Discoveries
It was not until the year 2000 that gas discoveries were made in Israel. First, it was a modest one which was located offshore of Ashkelon. After extensive years of work, the commercial production of this natural gas discovery was started in 2004. Just a decade later though, in 2014, the gas field is already nearly depleted and this was much earlier than what was expected.
One of the most groundbreaking gas discoveries in Israel happened in 2009. Large quantities of natural gas deposits were uncovered deep in the Mediterranean Sea off the coast of Israel. It was found specifically in the west of Haifa, the third largest city in Israel. This gas field discovery was named Tamar and started its commercial production on March 30, 2013.
Another most significant find in the Israeli gas reservoirs was achieved in 2010. The large natural gas field was found lying roughly 47 kilometers southwest of the previously discovered Tamar gas field and located hidden deep in the Levantine basin. Called the Leviathan gas field, this enormous field is foreseen to be able to sustain Israel’s domestic energy needs for up to four decades. The field is set to start its production come to the end of 2019.
Israel’s New Era of Natural Gas
The two previous discoveries, Tamar and Leviathan, along with the most recent finds in Tanin and Karish, are but a great sign of a strong future for Israel’s natural gas industry. What more, the drilling rig in Israel is simply not stopping there. The nation is currently doing some huge leaps in pushing itself into the foreign markets to become one of the most important exporters of natural gas.
Israel is presently undergoing an oil and gas exploration boom. Following more than six decades with almost no progress in hydrocarbon development, the country of Israel is finally emerging itself with thriving precious gas and oil resources. The nation has already launched its energy missions to other big countries around the world, including its Energy Mission in Houston to collaborate with the United States and other international companies in support to its rapidly flourishing energy sector. For this country which is starting to see a colossal oil rush, all of these huge gas resources discoveries are expected to have strategic impacts on the country.
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