Akcieatrhy (Akcieatrhy.cz)
Markets  |  April 08, 2013 10:03:34

Israel wins again. Israeli natural gas begins to flow from the Levantine Basin.



“Akcieatrhy.cz“The first gas begins to flow from mining giant Israeli Tamar field in the Levantine Basin. This event can completely redraw the energy map of the Mediterranean and has the power to change the geopolitical situation.

Noble Energy Inc.. (NBL) 30 March announced that it began supplying natural gas to Israel from Tamar field decaying in Levanské pan. NBL own 36% share along with two Israeli companies from Delek Group, each with a share of over 15.6%. Other participants are Israeli companies Israemco with 29%, and Dor Alon is 4%.

Graphical analysis NBL

From the beginning of the gas will be used to meet the needs of national Israel, but export to foreign countries will begin within 2-3 years. Israel wants to export natural gas mainly to Europe and expects to build an undersea pipeline through Turkey, which already has built an infrastructure that would have to be transported to Europe.

Competitive race to use this natural wealth is in full swing. It is estimated that total reserves of natural gas in the Levant Basin reach a staggering 122 trillion cubic feet and 1.7 billion barrels of oil. Lebanon and Cyprus is also trying to use its territory in the Levant Basin.Cyprus has discovered natural gas and Lebanon to announce that its marine coastal shelf explored.
The Cypriot government says its natural gas reserves amount to a staggering 60 trillion cubic feet of gas, but it is not yet validated data and the commercialization of us divided for many years. At best, they could start mining after five years and export to foreign countries can be expected before around 2020.

Israel has in terms of production and construction of mining infrastructure gap, but to be able to export gas, necessarily needs Turkey.

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Originally, the game version of the pipeline, which would link both Cyprus and Turkey, but there is too much political obstacles that stand in the way of this plan. That would at least solve the problem between Cyprus and the Turkish part. From a technical point of view it would be best to build a pipeline that would connect all sources in the Levantine Basin, including Lebanon, Israel, Cyprus and Turkey, but that's just wishful thinking geopolitical.

Beginning to emerge that the only viable solution to the Israel-Turkey pipeline. In this spirit, it is necessary to understand an unprecedented apology to Turkey for Israeli intervention in maritime blockade that killed several Turkish citizens. Without apology, brokered by U.S. president Barack Obama in Turkey should plan for a joint project could gain national support.

This development raises anxiety in Cyprus and Lebanon, because it is simply odstřihuje from possible future use. The political forces in Lebanon do not want to connect the pipeline with the participation of Israel and Turkey again wants to connect Cyprus.

Of course we must not forget the Russian interests in the region. Gazprom does not want to lose its influence in the European markets, so after a visit by President Putin in Israel gained the right to own mining in the Levantine Basin, which includes the exclusive rights to manufactureliquefied natural gas (LNG). Russia's plan to redirect the Israeli production outside Europe and will supply liquefied natural gas to Asian markets starved. Russia intends to invest in building a floating liquefaction plant on natural gas $ 5,000,000,000. In return, wants to acquire exclusive rights to export all the gas from the Tamar field. Gazprom already in this direction signed the contracts, but is currently awaiting approval of funding by the Israeli authorities.

For Israel begin to harvest gold. Own an estimated 435 billion cubic meters of natural gas. (16 billion cubic feet in the Leviathan and 250 billion cubic feet in the Tamar). The total value of this gas reaches the European market of 240 billion USD. Tamar field alone will increase Israel's GDP by 1% per year.Power plants run on natural gas, so it will come down Israeli electricity prices by reducing the cost of production.

For Europe, this development means to reduce dependence on Russian natural gas, for example, which resulted in a newfound political courage to deal with Cyprus without regard to Russian interests.

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