As Israel continues its quest to reduce its dependence on coal, a material it must import from external sources, an off-shore discovery could signal a vast new energy resource in natural gas.
This week, Noble Energy, a U.S. energy group with significant investment in Israeli off-shore production, said the natural gas reserves will be provided solely to the Israeli market. The two natural gas reserves confirmed off the coast of Haifa (in the regions nicknamed Tamar and Dalit) may together contain a two decade supply of gas based on projected needs.
According to the company, “The significant exploration discoveries at Tamar and Dalit will help meet Israel’s future energy needs and drive additional new uses for natural gas.” This could be a win-win situation for both Israel and Noble Energy. As Israel increases natural gas usage and reduces the use of coal, Noble Energy’s exploration group hopes to meet Israel’s growing need.
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