Petrobras to Bid in Israeli Gas Tender
Israel's energy minister said on Sunday that Brazilian state-run oil firm Petrobras will take part in a tender to explore for oil and gas off Israel's shore, Reuters reports."It was agreed that Petrobras ... will take part in a process of oil and gas exploration in Israel," Energy Minister Yuval Steinitz told Army Radio as Brazilian President Jair Bolsonaro began a visit to Israel.A previous auction elicited bids from only two groups of companies…
Israel Seeks Diplomatic Solution to Med Gas Spat with Lebanon
Israel seeks a foreign-mediated diplomatic resolution with Lebanon over a disputed Mediterranean gas field, the Israeli energy minister said on Wednesday after a surge in hostile rhetoric between the enemy countries. "We hope for, and are prepared to move forward on, a diplomatic resolution to this matter," Yuval Steinitz told the Ynet news site when asked about the Block 9 field, for which Lebanon has issued an oil and gas exploration tender, drawing condemnation from Israel's defence minister last week.
Med Gas Pipeline Possible by 2025
Project may cost up to 6 billion euros; final investment decision could come by 2020. European and Israeli governments gave their support on Monday to moving forward with a Mediterranean pipeline project to carry natural gas from Israel to Europe, setting a target date of 2025 for completion. The planned 2,000 km (1,248 mile) pipeline aims to link gas fields off the coasts of Israel and Cyprus with Greece and possibly Italy, at a cost of up to 6 billion euros ($6.4 billion).
Israel, Greece and Cyprus Mull Gasline to Europe
Greece, Israel and Cyprus will explore the possibility of building a natural gas pipeline to Europe, tapping huge gas reserves discovered in the eastern Mediterranean in recent years, leaders of the three countries said on Thursday. Israel has reported some of the largest gas finds in the past decade and EU member Cyprus confirmed a discovery in 2011, making both potential exporters. Groups of specialists will be appointed to assess the pipeline idea…
Israelis Chase Egypt Gas Contracts
Egypt important to Israeli gas export plans; arbitration linked to Egyptian gas exports. Israeli firms Delek Group, Ratio Oil, and Isramco Negev said on Monday they would push ahead with talks to export natural gas to Egypt despite an arbitration ruling in a separate deal that has caused anger in Cairo. Egypt's state-owned oil and gas companies said on Sunday they would appeal more than $2 billion in penalties which arbitrators at…
Israel Eyes More Offshore Gas Exploration
Israeli Energy Minister Yuval Steinitz said he expects offshore natural gas exploration to accelerate in the next few months, with investment from some of the world's largest oil and gas companies. Steinitz said he recently met officials from ENI and 20-30 other energy firms, such as Shell, Hess , Exxon Mobile and EOG, in a bid to entice them to invest in Israeli fields off its Mediterranean coast. Under a framework agreement approved in August by lawmakers…
Netanyahu: Nothing Will Stop Israel's Natural Gas Development
Israeli Prime Minister Benjamin Netanyahu vowed to further develop offshore natural gas fields after the country's anti-trust regulator said he would step down to protest against the lack of competition in the gas sector. Netanyahu is under pressure to strike a balance between moving ahead with plans to develop the large Leviathan gas field while creating competition, since Leviathan is owned by the same firms as the nearby Tamar site that started production in 2013. The fields are off Israel's Mediterranean coast.
