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November 6, 2013 6:07 pm

Israeli Energy Minister: ‘Everyone Wants to Hug Israel’ Because of Its Natural Gas Production

avatar by Zach Pontz

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Israel Energy Minister Silvan Shalom.

Israeli natural gas is saving the country’s economy $300 million a month, a figure that could reach as high as $1 billion, Israeli Energy Minister Silvan Shalom told Bloomberg News, adding that the country has become an attractive natural gas supplier in the global marketplace, one that “everyone wants to hug.”

“It means it will bring a huge improvement to the Israeli economy because the gas will be much cheaper. We will cut the tariff for electricity. We will cut the tariff for water that is produced by electricity, and all the products that are produced in Israel will be much cheaper,” Shalom told Bloomberg.

The Tamar gas field was Israel’s first major hydrocarbon discovery within its territory, spurring the discovery of other major fields such as Leviathan.

Located off the coast of Haifa, the Tamar field is believed to hold over 10 trillion cubic feet of natural gas. In 2010, American energy giant, Noble Energy, signed an agreement with Israel’s Delek group to develop the field.

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  • HaroldT

    Why are the Israelis even thinking about a pipeline to Turkey, so clearly no longer an ally !
    They should establish a major oil terminal in Israel and export from there, and be totally independent.

    • Israel and Greek Cyprus have come to an agreement over Leviathan the oil field they share, and Turkey thinks it can lure Cyprus away from the agreement! What a joke! Turkey unilaterally and in an entirely unprovoked manner invaded northern Cyprus in 1974 and stole Greek homes and resources and now it thinks it can cosy up to Cyprus! Unless they intend to give back to Cyprus what belongs to Cyprus, they haven’t a gnat’s chance of succeeding. Incidentally, this land grab is one that the UN has never condemned in any way, unlike its condemnations of Israel for taking over what rightfully belongs to it.
      P.S. I know what goes on in Cyprus I lived there between 1970 and 1972.

  • Israel has gas, oil, oil shale, solar energy, I hope they succeed in bringing forward efficient cheap solar driven desalination plants, then they have any amount of money. Once the shale technology is mature all of China is waiting for the technology as they have a lot, but great problems getting it out with the raw US methodology for fracking.

  • E Pluribus Wombat

    It can NEVER be sold to anyone else, ever. Tell them all to freeze to death in the dark. The moment it’s sold to anyone else they will use it as a weapon against the Jews.

    • Alana

      I appreciate your point, thanks Mr. Wombat.

  • Sandy Brown

    Apparently we about about to be hit by power cuts and shortages this winter in the UK. Could we have some of yours please? Joke.

    • Jerry G

      Power cuts and shortages in UK. Good to hear. What a wonderful revenge on such an anti-Semitic country.

      • sootys mum

        Jerry, the UK has actually been very supportive of Israel, Cameron is now the prime minister and has no idea of what he is doing. He is not as supportive as our previous Labour governments were.

  • Wallace Edward Brand

    Israel should evaluate the economic feasibility of using its natural gas in fuel cells. These would have many advantages including extremely low toxic pollution, and great fuel efficiency with small generating units. This means an integrated system with high voltage transmission lines vulnerable to sabotage in an intifada will not be needed.

  • Mort Moooze

    Is there any prospect that liquefied natural gas could replace imported gasoline?

    • Anthony C Abela

      Well Mort, I have a Ford Escape 2002 model. Two years ago I had it converted to LPG, which is liquefied gas. It is directly injected into the chambers and when I change from Petrol to Gas or vice versa, I don’t notice any difference at all. So now my car has another tank that takes gas. My car thus runs on petrol or gas to my choosing. I run it mostly on gas because it is half the price of petrol. Gas at the moment is about $0.75c per litre compared to $1.48 aud. Every now and then I put it on petrol to make sure that the petrol system still runs efficiently. Also the government of this country which is Australia has been subsidising the gas conversions. Hope this has been of help. A note of encouragement to the government of Israel, it is well worth it and a very large percentage of cars run on gas here. One can also order cars from vehicles that are manufactured here to have cars run solely on gas, they are called “dedicated gas cars”. Good luck Israel and shalom to all. A.C.Abela Australia

  • Ron

    If I were responsible for the distribution of natural gas in Israel, the only gas I would give the world would emanate from my rectum.

    • sootys mum

      Oil is power so Israel will now be listened to.

  • Anthony Dayton

    I trust that the BDS movement won’t be taken in by the prospect of cheaper energy, and should they have the opportunity, that they will reject the Zionist plot….oh wait a minute. Now they’ll accuse Israel of contributing to greenhouse gasses and environmental warfare. Damn!

    • Alana

      Thanks, Mr. Dayton, for the smile, sardonic thought it may be.

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