NYT: Israel Begins Pumping Natural Gas From Offshore Field
"Israel’s Ministry of Energy and Water Resources says that the Tamar
field will supply 50 to 80 percent of Israel’s natural gas consumption
needs over the next 10 years. About 40 percent of electricity in Israel
has been generated from natural gas in recent years, and the rate of
natural gas consumption is expected to rise to 50 percent by 2015, the
ministry said."
As the article notes the Tamar gas field went on line yesterday. Tamar is estimated to hold 275 MM cubic meters of gas. The larger Leviathan field (also see here here and here) is estimated to hold up to 700 BB cubic meters of gas, 600MM barrels of oil, and unknown amounts of natural gas condensates. This is not a huge amount by world standards (less than 0.5% of world proven gas reserves) but Israel's population is only 0.1% of the world total. A comparison which brings together two stories that we have been following. Israel's proven gas reserves are approximately 10% larger than Pakistan's reserves. However Pakistan's population is approximately 23! times as large as Israel's.
At one time there was discussion of a deal for Gazprom to export LNG from Leviathan but now it appears that Australia's Woodside Petroleum will get that stake (see here).
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