Discovery of large natural gas reserves under waters of eastern Mediterranean could lead to new Lebanon-Israel conflict
BEIRUT – The discovery of large natural gas reserves under the waters of the eastern Mediterranean could potentially mean a huge economic windfall for Israel and Lebanon, both resource-poor nations — if it doesn’t spark new war between them.
The Hezbollah militant group has blared warnings that Israel plans to steal natural gas from Lebanese territory and vows to defend the resources with its arsenal of rockets. Israel says the fields it is developing do not extend into Lebanese waters, a claim experts say appears to be correct, but the maritime boundary between the two countries — still officially at war — has never been precisely set.
“Lebanon’s need for the resistance has doubled today in light of Israeli threats to steal Lebanon’s oil wealth,” Hezbollah’s Executive Council chief Hashem Safieddine said last month. The need to protect the offshore wealth “pushes us in the future to strengthen the resistance’s capabilities.”
The threats cast a shadow over what could be a financial boon for both nations, with energy companies finding what appear to be substantial natural gas deposits in their waters.
Israel is far ahead in the race to develop the resources. Two fields, Tamar and Dalit, discovered last year, are due to start producing in 2012, and experts say their estimated combined reserves of 5.5 trillion cubic feet (160 billion cubic meters) of natural gas can cover Israel’s energy needs for the next two decades.
In June, the U.S. energy company Noble Energy, part of a consortium developing the fields, predicted that Israel will also have enough gas to export to Europe and Asia from a third field — Leviathan, thought to hold up to 16 trillion cubic feet (450 billion cubic meters) of gas.
Israel relies entirely on imports to meet its energy needs, spending billions to bring natural gas from Egypt and coal from a variety of countries. So just freeing the country from that reliance would have a major impact.
When Tamar begins producing it could lower Israel’s energy costs by a $1 billion a year and bring $400 million a year in royalties into government coffers. That suggests a total of about $40 billion in savings and $16 billion in government revenues over the total yield of the field. Those numbers would only rise as Leviathan comes on line.
“Israel’s always looked for oil,” said Paul Rivlin, a senior research fellow with Tel Aviv University’s Dayan center. “But I don’t think it ever thought of itself as becoming a producer. And now that you’ve got a high-tech economy that’s doing quite well, this comes as an added bonus.”
Hezbollah’s warnings, however, quickly followed the announcement by Houston, Texas-based Noble Energy.
Lebanese parliament speaker Nabih Berri, a Hezbollah ally, warned that Israel is “turning into an oil emirate while ignoring the fact that the field extends, according to the maps, into Lebanon’s territorial waters.”
Israel’s Petroleum and Mining commissioner at the National Infrastructure Ministry Yaakov Mimran, called those claims “nonsense,” saying Leviathan and the other two fields are all within Israel’s economic zone.
“Those noises occur when they smell gas. Until then, they sit quietly and let the other side spend the money,” Mimran told the Israeli daily Haaretz.
Maps from Noble Energy show Leviathan within Israel’s waters. An official with Norway’s Petroleum Geo-Services, which is surveying gas fields in Lebanese waters, told The Associated Press that from Noble’s reports there is no reason to think Leviathan extends into Lebanon. The official spoke on condition of anonymity because he was not authorized by his company to speak on the subject.
The rumblings are worrisome because Israel and Hezbollah each accuse the other of intending to spark a new conflict following their devastating 2006 war. That fighting, in which Hezbollah’s capture of two Israeli soldiers in a cross-border raid sparked a massive Israeli bombardment, killed about 1,200 Lebanese and 160 Israelis.
Since then, there has been a rare interval of peace. Hezbollah, a close ally of Syria and Iran, has not fired a rocket into Israel since. Israeli officials, however, say they believe Hezbollah has managed to triple its prewar arms stockpile to more than 40,000 rockets.
The warnings from Hezbollah and Berri could be as much for domestic consumption as directed as Israel, aiming to press for the passage of a long-delayed draft oil law, needed before any Lebanese fields can be developed.
Oil and gas exploration has been a source of disagreement between Lebanese politicians over the past decade. The change of several governments and disputes over what company should do the surveying have caused delays.
In October, Petroleum Geo-Services said fields in Cypriot and Lebanese waters “may prove to be an exciting new province for oil and gas in the next few years,” noting signs of deposits in Lebanon, though their size is still not known. “It is very encouraging for Lebanon,” the PGS official told AP.
Any finds could help Lebanon’s government pay off what is one of the highest debt rates in the world, at about $52 billion, or 147 percent of the gross domestic product.
Israel and Lebanon are among the few countries in the Middle East without substantial, lucrative natural resources. Israel has built a place for itself with a powerful high-tech sector, while Lebanon has boomed in recent years with tourism and real estate investment. While the gas may not transform them into Gulf-style spigots of petro-cash, it would be a major boost.
Rivlin doubts Israel could become a significant exporter, saying nearby countries don’t need or aren’t willing to buy from it, and the costs of liquifying gas for transport to further markets like Europe may be prohibitive. But Eytan Gilboa, a political science professor at Bar-Ilan University, said that with the world “so hungry for energy,” Israel won’t have a problem finding buyers.
But the development raises security worries, as the offshore gas infrastructure could become a target. During the 2006 fighting, Hezbollah succeeded in hitting Israeli warships off Lebanon with its rockets.
“Once those rigs start producing gas, it’s going to be difficult to secure them,” Gilboa said. “So on the one hand, you reduce dependency on imports in times of crisis, but at the same time, you make yourself vulnerable because those sites are exposed.”
…[Trackback]…
More information here…
Read was interesting, stay in touch……
[...] we like to pay tribute to all kinds of other internet sites on the web, whether or not they’re not linked to us, by simply linking to them. Below are a few sites truly worth looking over [...]…
Websites to check…
[...] Online sites of interest we have a link to [...]…
…[Trackback]…
Reply post here…
Best additions…
[...] and we’re linking out to that internet site [...]…
Trackback for this entry…
[...] just down the page, are a number of totally not affiliated sites to ours, however, they are certainly worth looking into [...]…
Stop Link Spam…
[...] Every once in a while we choose blogs that we read or services that we use. Here is the wordpress plugin that we use to stop spamy links. We love our website clean. [...]……
Not a chance……
[...] Now whenever a man or woman looks at the existing fashion assertion, it usually is measurement zero [...]…
Sites You Should Check Out…
http://www.pentlands.getlisted.co.nz/cheap-hotels-in-auckland-city...
Visitor recommendations…
[...]one of our visitors recently recommended the following website[...]……
[...] that is the end of this article. Here you’ll find some sites that we think you’ll appreciate, just click the links over[...]……
[...] Every once in a while we choose blogs that we read. Listed below are the latest sites that we choose [...]……
[...]the time to read or visit the content or sites we have linked to below the[...]……
[...]here are some links to sites that we link to because we think they are worth visiting[...]……
[...]the time to read or visit the content or sites we have linked to below the[...]……
[...]here are some links to sites that we link to because we think they are worth visiting[...]……
[...]Sites of interest we have a link to[...]……
[...]usually posts some very interesting stuff like this. If you’re new to this site[...]……
[...]Sites of interest we have a link to[...]……
[...]usually posts some very interesting stuff like this. If you’re new to this site[...]……
[...] that is the end of this article. Here you’ll find some sites that we think you’ll appreciate, just click the links over[...]……
[...] Every once in a while we choose blogs that we read. Listed below are the latest sites that we choose [...]……
[...] that is the end of this article. Here you’ll find some sites that we think you’ll appreciate, just click the links over[...]……
[...] Every once in a while we choose blogs that we read. Listed below are the latest sites that we choose [...]……
Read was interesting, stay in touch……
[...] but still deliberating with an actual distinct fashion that you influenced who [...]…
Great information…
This is often really good. Solitary looked at this key fact gist when we are baffled. We’re interested in this kind of viruses. Just one appreciate one’s own insert, and regard the effort with this. Please keep updating. They may be amazingly excepti…
[...]The information mentioned in the article are some of the best available [...]……
[...]below you’ll find the link to some sites that we think you should visit[...]……
You should check this out…
[...] usually a huge fanatic of linking to blog owners that I like yet aren’t getting a lot of link love right from [...]…
[...]the time to read or visit the content or sites we have linked to below the[...]……
[...]here are some links to sites that we link to because we think they are worth visiting[...]……
Recommended websites…
[...] take a look at below, are some utterly unrelated sites to ours, however, they’re most reliable sources that many of us use [...]…
Related Blogs…..
[...] often a good addict of backlinking to bloggers that I like but aren’t getting a lot of link love right from [...]…
Visitor recommendations…
[...] we discovered an outstanding site that you might love. Check it out if you need to [...]…
Read was interesting, stay in touch……
[...] down further you will find the link to many sites that many of us presume you should visit [...]…
Great links…
[...] Ever reflect on which place to go to for a weekend and end up going nowhere but thinking you’d [...]…
Great information…
This is magnificent. Some checked out this unique gratification therefore we are thunderstruck. We are attracted to this type of the whole internet marketing thing. Only one appreciate a hot contribution, and estimate your precious time in this. Please…
Best additions…
[...] although websites we backlink down the page are somewhat not in connection with ours, we really feel they are actually worth a go over, hence have a look [...]…
Trackbacks…
[...] I watched someone chatting about this on Tumblr and it linked to [...]…
Click here……
[...] Together with a significant butterfly structure, with lace around the lovely visual of the easygoing born [...]…
Awesome webpage…
[...] Below are a few of the sites that we strongly recommend for our visitors [...]…
… [Trackback]…
[...] Read More: hotindienews.com/2010/07/27/1028846 [...]…
Awesome site…
[...] Nearly every now and again we tend to decide on blogs that we read. Further down are the best sites that we pick [...]…
Great information…
This is certainly extraordinary. We watch that particular written material when we are startled. We are most certainly fascinated by this kind of troubles. A good appreciate a rising opinion, and regard your precious time with this. Please keep add rel…
Related Blogs…..
[...] always a huge fanatic of backlinking to blog writers that I appreciate yet aren’t getting quite a few link love right from [...]…
Awesome site…
[...] one among our visitors recently commended the following website [...]…
Sites You Should Check Out…
http://www.lifereader.co.uk/psychics/clairvoyant_psychic_readings...
Trackback for this post…
[...] Niche sites of interest we have a link to [...]…
Cool sites…
[...] still deliberating on an actual specific fashion that you inspired exactly who [...]…
tappa har ungdom…
[...]0 Great blog. Thanks for share.. Yessir! qn[...]…
Great information…
This is first-class. A miami detective checked out doing this written content therefore we are thunderstruck. We are fascinated by this sort of parts. An individual appreciate going up on your suggestion, and prize your time in this. Please keep updati…
[...]Sites of interest we have a link to[...]……
[...]usually posts some very interesting stuff like this. If you’re new to this site[...]……
Discovery of large natural gas reserves under waters of eastern Mediterranean could lead to new Lebanon-Israel conflict | Hot Indie News…
Im impressed. I dont think Ive met anyone who knows as much about this subject as you do. Youre truly well informed and very intelligent. You wrote something that people could understand and made the subject intriguing for everyone. Really, great blog …
Tamil Trailers…
Watch tamil movie trailers HD online…
Great information…
This is often very nice. Device checked out this skill contented therefore we are surprised. We are curious about this sort of topics. Many people appreciate your traditional information and facts, and number doing with this. Please keep cutting. They …
Discovery of large natural gas reserves under waters of eastern Mediterranean could lead to new Lebanon-Israel conflict | Hot Indie News…
I think this is a really good site. You definately have a fabulous grasp of the subject matter and explain it great….
… [Trackback]…
[...] Read More Infos here: hotindienews.com/2010/07/27/1028846 [...]…
Best additions…
[...] one among our site visitors recently commended the following websites [...]…
Looking around……
[...] please visit the sites many of us read, most notably this blog, as it connotes our choices right from the web [...]…
Check this out……
[...] check out the sites many of us follow, which includes this blog, as it signifies our choices right from the internet [...]…
The best website……
[...] involves pretty long time for getting an improvement. One will need to have real dedication [...]…
Awesome webpage…
[...] Now each time a person looks at the existing fashion assertion, it is usually measurement zero [...]…
Related.. Trackback…
[...]the time to read or visit the content or sites we have linked to below the[...]…
The best website……
[...] Areas of interest many of us have a url to [...]…
… [Trackback]…
[...] Read More Infos here: hotindienews.com/2010/07/27/1028846 [...]…
Recommended…
Here are some of the sites we recommend for our visitors…
Related Sites……
[...] check below, are several totally unrelated websites to ours, nevertheless, these are generally most trustworthy sources that we all use [...]…
Sites You Should Check Out…
http://www.exhibitgroup.getlisted.co.nz/...
Sites You Should Check Out…
http://www.pentlands.getlisted.co.nz/auckland-accommodation...
Sites You Should Check Out…
http://www.exhibitgroup.getlisted.co.nz/...
Kredyt hipoteczny…
Perfectly pent subject material, regards for entropy. “No human thing is of serious importance.” by Plato….
Sites You Should Check Out…
http://www.lighthouse.getlisted.co.nz...
Sites You Should Check Out…
http://www.jagkitchens.getlisted.co.nz/nz-kitchen...
Sites You Should Check Out…
http://www.exhibitgroup.getlisted.co.nz/...
How to Do Seo…
Hello, just wanted to say, I loved this blog post. It was helpful. Keep on posting!…
Sites You Should Check Out…
http://www.christchurchglass.getlisted.co.nz...
Air Jordan Countdown Package…
[...]I practiced my obtain all day long by shift serving among the many my church along with perhaps helping to clean my ceremony up[...]…
bartenderkurser kos…
[...]7 What cache solution do you use for this site? It loads so much faster than 0b[...]…
bästa billigaste hundförsäkringen…
[...]b I have to voice my love for your kindness for women who should have help wi ox[...]…
Sites You Should Check Out…
http://www.eurotec.getlisted.co.nz/ice-maker-machine...
Sites You Should Check Out…
http://www.aucklandmarine.getlisted.co.nz/nz-boats-for-sale...
Sites You Should Check Out…
http://www.techrentals.getlisted.co.nz/hire-thermal-imaging-camera...
abate…
top tiffany elsa peretti mesh scarf earringswe do know that they were developed in either Australia or New Zealand.pandora bracelets…
greek foods…
Real wonderful information can be found on web blog ….
Marketing sur Internet…
Keep reading for a wonderful site talking about Webmarketing….
I {don’t|do not} even know how I ended up here, but I thought this post was {good|great}. I {don’t|do not} know who you are but {definitely|certainly} {you are|you’re} going to a famous blogger if you {are not|aren’t} already
Cheers!…
Heya i’m for the first time here. I came across this board and I find It truly useful & it helped me out much. I hope to give something back and aid others like you aided me….