Huge gas field off the coast – Israel is helping Europe out of energy crisis

Huge gas field off the coast - Israel is helping Europe out of energy crisis
Production stage on the Israeli coast

The deal between Lebanon and Israel could be a blow of fate for Europe.


(Photo: DPA)

Tel Aviv Energy Policy Success Between Israel and Lebanon: The two states have settled their decades-old dispute over two gas fields on the Israel-Lebanese coast. This is very important from the point of view of energy and regional policy. Israel wants to help bridge Europe’s energy gap. And Lebanon can hope for a moderation in its chronic financial crisis, reducing its dependence on Tehran.

“The gas that Israel is already producing from its two fields of Tamar and Leviathan could replace 10 to 15 percent of the gas in the medium term,” estimates Israeli natural gas consultant Gina Cohen. Israel currently supplies between six and seven billion cubic meters of gas per year to Egypt. Some of this is liquefied at Egyptian LNG plants and then sold through international markets. An increase in this amount would require additional expansion of infrastructure.

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