As Woodside Acquires Stake in Leviathan, Israel Takes Step Toward LNG Exports

LONDON, Feb 7 (Reuters) - Israel has taken a step closer to becoming a natural gas exporter after Australia's Woodside Petroleum Ltd signed a deal to take a 25 percent stake in the huge East Mediterranean Leviathan gas field. The Australian company, considered a leader in the booming liquefied natural gas (LNG) sector, signed a preliminary agreement on Thursday to buy a … [Read more...]

Israel’s Deepest Well Targets 1.5 Billion Barrels of Oil

By Shoshanna Solomon (Bloomberg) -- The deepest oil well drilled in Israel’s 65-year history may be the most important. Houston’s Noble Energy Inc. will probe 6,500 meters (4 miles) below the Mediterranean seabed later this year, targeting as much as 1.5 billion barrels of crude, equal to about 15 years of Israeli demand. While explorers have found enough … [Read more...]

Cyprus Aims to Be Mediterranean Energy Hub with New $6 Billion LNG terminal

By Michele Kambas NICOSIA, June 26 (Reuters) - Aiming for energy hub status and hoping to reboot an economy hobbled by a debt bailout - Cyprus started talks with three energy firms for the development of a liquefied natural gas (LNG) terminal. The terminal, with an estimated cost of $6 billion, will process the vast natural gas reserves off the east Mediterranean island. … [Read more...]

For Cyprus, Gaslight at the End of Tunnel?

By STANLEY REED LONDON — If there are any bright spots in the gloom surrounding the economy of Cyprus, one place to look would be about 170 kilometers south of the coastal city of Limassol. There, about 1,700 meters below the surface of the Mediterranean Sea, is a potentially lucrative natural gas field called Aphrodite. A gas rig in the Mediterranean, which … [Read more...]

Israel’s Navy Is Under-Equipped to Protect Offshore Energy Facilites

By Ari Rabinovitch ASHDOD, Israel, April 1 (Reuters) - Israel's huge new offshore gas resource offers its enemies an obvious target and gives its navy, long overshadowed by other branches of the Israeli armed forces, a big job that will require extra spending. On patrol boat 836, circling two gas platforms in choppy Mediterranean waters, Captain Ilan Lavi flipped through … [Read more...]