Israel Discovers Third Massive Natural Gas Field ‘Royee’

Israel announced on Sunday the discovery of a major offshore gas field, the third to be located in its waters in the past five years, augmenting its newly acquired status as an energy power.

The new field, some 90 miles off Israel’s coast in the eastern Mediterranean, holds at least 3.2 trillion cubic feet (TCF) of gas, according to a 3D seismic survey. Two larger fields, discovered in 2009 and 2010, have combined reserves of at least 33 trillion cubic feet. These fields are expected to serve the bulk of Israel’s gas needs for the coming century. Experts say that further exploration will likely uncover other sizeable fields in Israel’s deep offshore waters.

The gas discoveries will have a major impact on Israel’s economy and perhaps even on its relations with Arab neighbors. Jordan, the Palestinian Authority, and Egypt are all in urgent need of energy supplies and Israel would be the natural supplier. Israel’s proximity would make the gas significantly cheaper than gas they could acquire from any other source.

It would be difficult politically for Arab governments to import gas from the Jewish state given the current tensions in the area. However, American firms, which are consortium partners with Israeli firms in the gas exploration, have already begun to act as intermediaries between Israel and these potential customers.

Until five years ago, Israel was almost entirely dependent on the import of coal and other energy sources. Offshore natural gas has now become a major, and growing, element in electrical production in Israel and in its industrial sector.

The drilling of an exploration well in the newest field, named Royee, is expected to get underway in December 2015.

The sprouting of gas rigs in the waters off Israel’s coast also creates a major security problem. The sites constitute a potential target for missiles fired both by Hamas in the Gaza Strip and Hezbollah in Lebanon. Terrorist attacks in explosives-laden speedboats are another concern. The Israeli navy has been patrolling the gas fields. It recently asked Germany to sell it three missile boats to beef up security around the rigs. The boats’ missiles would be capable of intercepting incoming missiles.

However, both Hamas and Hezbollah have reasons to refrain from attacking Israel’s seemingly vulnerable offshore assets. For one, any such attack would undoubtedly induce a massive Israeli response. Beyond that element of deterrence, both Hamas and Lebanon have reason to believe that gas, perhaps even oil, lies off their shores as well and they would not want Israeli retaliation when they begin to mine their waters.

nowtheendbegins

13 Comments on "Israel Discovers Third Massive Natural Gas Field ‘Royee’"

ghung on Fri, 19th Dec 2014 2:58 pm

Interesting web site, that. The comments are entertaining, if not educational.

J-Gav on Fri, 19th Dec 2014 3:32 pm

I wonder how Hamas and Lebanon would “begin to mine their waters,” since Israel has put the clamps on that option … and they have no money to do so anyway.

So, what are we to expect? Israel as major gas supplier to Europe, replacing, at least in part, Russia? I suspect that is exactly what is on a number of peoples’ minds. Energy dependence on Russia, dependence on Israel, dependence on, well, anybody, does that bode well for sovereign decision-making in the EU? Au contraire.

Apneaman on Fri, 19th Dec 2014 3:39 pm

If there is one big enormous crash, those commenter’s will be among the most dangerous people on the planet. If they come walking up my driveway, I won’t even hesitate.

Arthur on Fri, 19th Dec 2014 4:49 pm

Great now Israel can really give everybody “gas”….

Hooey on Fri, 19th Dec 2014 5:20 pm

Israel…a creative and productive country [surrounded by dogmatic and destructive countries]. I am glad there is another gas field discovered that Israel can and will develop. It will enhance their economy and ultimately also their national security. Good work…

Davy on Fri, 19th Dec 2014 5:47 pm

I am mad at you Art! You have been away for to long. There is no excuse for that.

GregT on Fri, 19th Dec 2014 5:59 pm

I second that Davy. I can think of no better word than abandonment. Especially given the geopolitical atmosphere of the past several months. Where was Arthur when we most needed him?

TheLordJesusKingofIsraeliscoming on Fri, 19th Dec 2014 6:03 pm

Hura, hura,
Israel gave us the Bible, The Lord Jesus as the perfect sacrifice for our sins, they gave us so many Nobel inventions, they gave us Jerusalem, the Prophets, Apostles, the new Testament and now they are giving us Gas for energy.
The King of the tribe of Judah is coming soon, are you ready? Have you believed in the Name of Jesus as the Son of God?
Do that today calling on the God of Israel through the Name of Jesus and you will be saved.
See you all soon from the eternal capital Jerusalem..

ghung on Fri, 19th Dec 2014 6:05 pm

Apneaman – Yeah, it’s totally off-topic, but this article seems to have originated from Business Insider. Not sure why it was sourced from this fringe site. Maybe the editors have a sense of humour,, or….

Anyway, one of my main concerns going forward is the lunatic fringe (“we all know you’re out there”), but most of us surround ourselves with like-minded folks and don’t really mix with those who are outside our circle of sanity; tend to discount others’ thought processes, such as they are. Integrating the”gift from God” of millions of cubic feet of natural gas into their “nowtheendbegins” story may seem strange, but it’s part of their storey line.

Things get crazy, lock n load; get in touch with your own inner sociopath.

Dave on Fri, 19th Dec 2014 7:52 pm