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Natural gas fields give Israel a regional political boost | Ynet News |

Discovery appears to have helped Jewish state grow closer to Arab governments and other Mediterranean countries that share its concern over what they perceive as the rising power of Iran and Turkey in the region.

A decade after discovering natural gas fields off its Mediterranean coast, Israel is starting to feel the geopolitical boost.

Its newfound riches have fostered economic bonds with its neighbors, tightening relations with Arab allies, and built new bridges in a historically hostile region -- even without significant progress being made toward peace with the Palestinians.

Last week's inclusion of Israel into the Eastern Mediterranean Gas Forum in Cairo -- a consortium aiming to cut infrastructure costs and lower prices -- marked the first time Arab countries accepted Israel into such a regional alliance, sparking excitement in the country that its long-held hope of finally also making "economic peace" with Egypt and Jordan was fast approaching.

 "I think this is the most significant economic cooperation between Egypt and Israel since the signing of the peace treaty 40 years ago," says Energy Minister Yuval Steinitz during his visit. "The discovery of significant gas fields in the eastern Mediterranean has also political value because it brings all of us ... together to cooperate with each other."


In the coming months, Israel will begin exporting gas to Egypt as part of a $15 billion deal signed last year to provide 64 billion cubic meters of gas over a 10-year period that will help turn Egypt into a regional energy hub.

The first batches will come from the operational Tamar field and later from the far larger Leviathan field, set to go online later this year. Israel already delivers gas to the Palestinians and to Jordan, with whom Israel's Delek Drilling and its US partner, Noble Energy, signed their first export agreement in 2016 -- a $10 billion, 15-year deal to provide 45 billion cubic meters of gas.

Related reading ...

Big Gas Find Sparks A Frenzy in Israel
Neocon Target: Why Syria? World's Oil Supply System
US Foreign Policy for Dummies - 3 Letter Word O-I-L [link to AJ documentary - The Secret of the Seven Sisters]

Not about gas .. perhaps about energy and regional power:

Techno-narcissism and the American Leviathan by Richard Drayton @EuroTrib on Dec. 28, 2005
Yet Another "All About The Strategic Ellipse" by Ren @EuroTrib on Apr. 11, 2007

Selling the resources under the Golan Heights won't make you friends with Syria ..

1967 War - Israel - Rothschild - Cheney - Spoils
Israel Funds Syrian Rebel Weapons Purchases
Barcelona Process, EU Partnership and Syria

Global Warming - distance between America and Europe is steadily increasing.

by Oui on Fri Jan 25th, 2019 at 01:34:12 PM EST

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