Weekly News 3 October 2014 I srael’s gas reserves are too far away from major LNG offtakers in Asia to compete with a surge in cheaper deliveries of LNG shipments from new projects in East Africa, Indonesia, Qatar, Turkmenistan, and Australia. Exporting...
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Weekly News 3 October 2014 I srael’s gas reserves are too far away from major LNG offtakers in Asia to compete with a surge in cheaper deliveries of LNG shipments from new projects in East Africa, Indonesia, Qatar, Turkmenistan, and Australia. Exporting Israeli gas via pipelines to neighbouring Egypt and Turkey risk to exacerbate political tensions in the region, Bulter said, stressing Israel should instead use its gas resources for domestic consumption and increase energy independence. After a fierce parliamentary debate in the Kneset, the government last year decided to allow 40 percent of its natural gas reserves for export. The vast reserves in the Leviathan field, expected to come online by 2018, are estimated at nearly 22 Tcf – sufficient to meet Europe's gas needs for a year. Texas-based Noble Energy, which leads the Leviathan group, has said that because Israel is such a small market, it could not commit to developing the field unless a significant amount of gas was allowed to
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