• 5 minutes Mike Shellman's musings on "Cartoon of the Week"
  • 11 minutes Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
  • 17 minutes WTI @ 67.50, charts show $62.50 next
  • 12 hours The Discount Airline Model Is Coming for Europe’s Railways
  • 1 min Pakistan: "Heart" Of Terrorism and Global Threat
  • 1 day Newspaper Editorials Across U.S. Rebuke Trump For Attacks On Press
  • 5 hours Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 5 hours Venezuela set to raise gasoline prices to international levels.
  • 1 day Batteries Could Be a Small Dotcom-Style Bubble
  • 58 mins Renewable Energy Could "Effectively Be Free" by 2030
  • 17 hours Saudi Fund Wants to Take Tesla Private?
  • 1 day Starvation, horror in Venezuela
  • 18 hours Scottish Battery ‘Breakthrough’ Could Charge Electric Cars In Seconds
  • 1 day France Will Close All Coal Fired Power Stations By 2021
  • 1 day Don't Expect Too Much: Despite a Soaring Economy, America's Annual Pay Increase Isn't Budging
  • 10 hours Corporations Are Buying More Renewables Than Ever
Alt Text

Is This The Next Natural Gas Giant?

Nigeria has long been renowned…

Alt Text

Ghana Boosts Natural Gas Production

Momentum in Ghana’s hydrocarbons industry…

Editorial Dept

Editorial Dept

More Info

Trending Discussions

The Untapped Potential of the Levant Basin

The Eastern Mediterranean is an emerging region for natural gas development, and the resources underneath the seabed hold out the promise of an economic bounty to several small countries in the area.

Some of the natural gas fields just recently began to flow, but the buzz began back in 2010 when a U.S. Geological Survey report estimated that the Eastern Mediterranean held 1.7 billion barrels of oil and 122 trillion cubic feet of natural gas.

Known as the Levant Basin Province, the natural gas deposits stretch from the waters just off the coast of Israel, north to Lebanese and Syrian waters, and westwards to Cyprus.

Development quickly proceeded in Israeli territory shortly after the report’s publication.

ISRAEL

The development of the Tamar field has been a major achievement for the Israeli government. Israel, not naturally blessed with domestic sources of oil and gas, has long depended on imports to meet its energy needs. But the 2009 discovery of the large Tamar field in the Mediterranean changed the country’s fortunes. Holding an estimated 8 trillion cubic feet of natural gas, it was Israel’s largest discovery in history at that time.

And the Tamar was not the only field in the broader Levant basin to hold prodigious volumes of natural gas. A year later, the Leviathan was discovered. It was thought to hold 16 trillion cubic feet (tcf) of natural gas (450 billion cubic meters), double the volume of the Tamar field.…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





Oilprice - The No. 1 Source for Oil & Energy News