March 1, 2014

Israel: The Next Energy Superpower?

Arthur Herman, Commentary Magazine

Forbes

A classic quip since the creation of the state of Israel in 1948 has been that Moses brought his people out of Egypt to the one spot in the Middle East that didn’t have oil. “We proved that joke to be wrong,” says Gideon Tadmor, chairman of the Delek Group, one of a consortium of companies that built the Tamar platform. Delek and its partners began extracting gas from Tamar in March 2013 and has been doing so with the natural gas from three other fields as well. Ten years ago, Israel was a country 80 percent powered by coal, with the remaining 20 percent from oil—all of which had to be imported. Now, natural gas supplies half those energy needs. The known fields could contain more than 900 billion cubic meters of natural gas. In global terms, that’s not much—roughly the...

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TAGGED: Israel

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