Huge Finds in the Mediterranean Mean Israel is Overflowing in Natural Gas

Huge Finds in the Mediterranean Mean Israel is Overflowing in Natural Gas

by peixej@oilprice.com (Joao Peixe)

Ever since its foundation as an autonomous state in 1948, Israel has relied on imported energy to meet its domestic power demands. However offshore exploration operations have now found giant natural gas fields able to supply the country with more gas than it can use.Noble Energy Inc, Delek Group Ltd, and a few other companies have announced finds in the Mediterranean Sea that hold enough natural gas to supply Israel’s energy needs for 150 years.Noble Chief Executive Officer, Charles Davidson, said that they’ve “found far more…Read more...