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OPEC Sets the Stage for A Price Crash

OPEC Sets the Stage for A Price Crash

With shorts having spiked in…

Israel’s Offshore Natural Gas Fields May be Hard to Protect From Terrorism

According to specialists, output from Israel’s Mediterranean recently discovered Leviathan offshore natural gas fields may be hard to protect from security threat. In the wake of potential terrorist threats, former Noble Energy Inc. advisor Abraham Sofaer is recommending the construction of offshore floating liquefied natural gas facilities, Globes Israel business news reported.

Sofaer made his observations during a presentation at the "Lloyd’s Conference in Tel Aviv: Specialist Solutions in the Face of Changing Risks." Sofaer told participants, "If distribution is limited to Israel, existing facilities may suffice. If exports are undertaken, the challenges increase, depending on which countries are involved and in what form exports are made. Since distribution and transportation infrastructure are the most vulnerable aspects of oil and gas production, additional infrastructure and transport requirements beyond Israel’s control would increase risks significantly. Options to reduce risk and maximize flexibility could include using a floating platform capable of processing gas into LNG. All security efforts would be concentrated at the drilling platform and FLNG facility, thereby reducing other, greater risks in natural gas production and transportation. Experts regard the risks of protecting vessels transporting LNG significantly lower than those of protecting pipelines and other stationary facilities." Sofaaer then quoted a report which noted, "Although the terrorist attacks on the oil and gas sector are a relatively small proportion of terrorist attacks overall, the data show that a significant number of attacks have occurred over the period 1990-2005."

By. Charles Kennedy, Deputy Editor OilPrice.com



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