Congress quietly adopts Exxon Mobil-backed law promoting new gas pipeline, arms to Cyprus - THE INTERCEPT_

February 6 2020, 2:00 p.m.

Steve Horn, Lee Fang

IN A BITTERLY divided Congress, lawmakers still managed to come together to help Exxon Mobil pass major legislation that could remake the geopolitics of the Middle East and Europe.

During the holiday season legislative blitz in December, legislators tucked an obscure provision into the omnibus spending package that lifted arms restrictions and boosted a controversial pipeline deal in the eastern Mediterranean Sea.

The legislative text, mirroring a bill that has circulated in Congress over the last year, promises a range of U.S. assistance for the development of natural gas resources off the coasts of Israel and Cyprus, including support for constructing pipelines and liquified natural gas terminals and the creation of a United States-Eastern Mediterranean Energy Center in the region run by the U.S. Department of Energy.

Israel Could Be Key to 2020 Middle East Geopolitics - THE BEGIN-SADAT CENTER FOR STRATEGIC STUDIES

January 2, 2020
Frank Musmar
BESA Center Perspectives Paper No. 1,389, January 2, 2020

EXECUTIVE SUMMARY: Israel’s geographical position means it must stay agile and manage complex relations with its Muslim neighbors through quiet collaboration and smart use of its technological and economic advantages. Over the past two decades, Israel has discovered offshore gas, begun extensive seawater desalination, and dramatically expanded its navy’s platforms and missions. Ten years ago, Israel depended on Egypt’s natural gas; nowadays, Israel exports natural gas to Egypt and Jordan.

Netanyahu’s cousin bought Greek steel company as PM backed Greece gas deal - THE TIMES OF ISRAEL

24 November 2019, 7:49 pm

Prime Minister Benjamin Netanyahu’s cousin, US businessman Nathan Milikowsky, invested earlier this year in a massive Greek steel conglomerate at the same time the prime minister was advancing a gas pipeline deal with Greece and Cyprus, according to an exclusive report Sunday by The Times of Israel’s Hebrew sister site, Zman Israel.

According to the report, in late June, Milikowsky’s company, Jordan International, bought Hellenic Steel, which for many years was Greece’s second-largest steel company.

The report notes that Hellenic Steel’s factory near Thessaloniki had been out of commission for five years amid Greece’s economic crisis, and only resumed its activity last week, with the new investment.

The report says Jordan International is expected to invest some 100 million euros ($110 million) in the factory, whose output is expected to reach some 350,000 tons’ worth of product per year.

East Mediterranean partnership signals an energy revolution - JERUSALEM POST

Tsipras (L), Netanyahu (R)

DECEMBER 1, 2018 22:24
EMMANUEL NAVON 

Natural gas has turned Greece from a rival to an ally just as relations between Israel and Turkey started deteriorating.

The announcement in November that Israel, Cyprus, Greece and Italy have agreed to build a natural gas pipeline (the longest in the world) from Israel’s offshore gas fields to Europe, clearly indicates that Israel has chosen the Greek option over the Turkish one. In the past, Israel had considered a pipeline to Europe via Turkey, but the idea was dropped in favor of the Greek option. Building a natural gas pipeline via Turkey would have been cheaper and more viable economically, but it became politically unfeasible due to Turkey’s hostile policy toward Israel, Cyprus and Greece.

Natural gas has turned Greece from a rival to an ally just as relations between Israel and Turkey started deteriorating. Israel discovered the huge Leviathan gas field in 2009, shortly before the 2010 MV Marmara incident, which contributed to the rift between Israel and Turkey. In 2010, Benjamin Netanyahu became the first sitting Israeli prime minister to visit Greece, and the Israeli and Greek air forces started their first joint military exercises. In September 2011, Israel and Greece signed a security cooperation agreement. Israel now uses Greek airspace for training purposes.

Israeli bank eyes Energean gas field development project - KATHIMERINI /REUTERS

10.01.2018 : 20:36

Bank Hapoalim wants to take a more active role in Israel’s growing natural gas sector and hopes to lead funding for two offshore gas fields being developed by a Greek energy firm, a bank official said on Wednesday.

Greece’s Energean has said it expects to spend up to $1.5 billion to tap the Karish and Tanin fields, which are situated off Israel’s coast and have combined gas reserves estimated at 2.4 trillion cubic feet.

“Until today, Bank Hapoalim, and the local financing market in general, have given funds as part of a consortium, but never leading it,” said Itamar Furman, who manages the energy sector at Hapoalim, Israel’s biggest bank.

The changing face of the Israel Navy - JERUSALEM POST

An Israeli warship arrives at an Israeli navy base in the Red Sea resort city of Eilat July 15, 2009. (REUTERS)

August 17, 2017 03:43 Anna Ahronheim

Expansion of an exclusive economic zone presents challenge to the small Israeli naval fleet.

Some 30 meters underground in the Kirya military headquarters in Tel Aviv sits the Navy War Room, whence senior officers can see every wave crashing on the nation’s shores and every ship and plane in or over its territorial waters.

The Israel Navy is small compared to other IDF corps, and it has a large territory to protect since the expansion of the country’s Mediterranean exclusive economic zone (EEZ) from 40 miles to 150 miles four years ago, a senior naval officer said on Tuesday.

Israeli, Cypriot officials to meet for natural gas talks - ISRAEL HAYOM

Tuesday October 25, 2016Hezi Sternlicht

• Senior officials from energy ministries to try to finalize agreement on the development of shared gas fields Aphrodite and Yishai 

• Israeli official to fly to Athens on Thursday to discuss the building of tripartite pipeline to export gas from Israel.

Senior energy officials from Israel and Cyprus were scheduled to meet Tuesday to discuss the development of two natural gas fields, Aphrodite and Yishai, which lie on the maritime border between the two nations.

Shaul Meridor, the director general of Israel's National Infrastructure, Energy and Water Ministry, was to meet with his Cypriot counterpart, Stelios D. Himonas, the permanent secretary of Cyprus' Energy, Commerce, Industry and Tourism Ministry. The meeting is the latest effort to finalize an agreement that would pave the way for joint projects on those fields.

Israeli defense minister hails best-ever Cyprus-Israel ties - KATHIMERINI / AP

16.09.2016  16:50

Israel's defense minister says ties between his country and neighboring Cyprus are probably at their best ever.

Avigdor Lieberman said Friday that the two countries are “very, very reliable friends,” despite all the political and security problems plaguing the region.

Lieberman says the two countries are closely cooperating on numerous levels including security and the economy.

The Israeli minister was speaking after talks with Cyprus' defense and foreign affairs ministers and its intelligence chief.

Newcomer Energean will attract other int’l firms to explore for gas in Israel - JERUSALEM POST

By SHARON UDASIN
08/30/2016 20:38

Latest find and ongoing projects accelerating development in the entire region.
The expected purchase of the Karish and Tanin gas reservoirs by the Greek oil and gas company Energean will be a catalyst for other international companies interested in exploring Israel’s Mediterranean, a source linked to the project told The Jerusalem Post on Tuesday.

Energean’s entrance into the Israeli gas industry “opens the sector,” the source said. “The signal to the market is given: there’s something going on in Israel. You used to have a monopoly. Now you have a potential market.”

Although still pending Israeli government approval, the $148.5 million deal was signed by Athens-based Energean Oil & Gas in mid-August to purchase the gas reservoirs from two Delek Group subsidiaries, as well as pay the Israeli companies royalties from future gas and condensate sales. The likely sale of Karish and Tanin marked a first concrete step toward advancing Israel’s gas industry, following recent approval of the contentious “gas outline” that rattled the sector for all of 2015.

Delek Drilling, Avner to sell Karish and Tanin fields to Energean - WORLD OIL

8/17/2016

ATHENS -- Delek Drilling and Avner Oil Exploration, part of Israel's leading integrated energy company, have signed a deal for the sale of 100% of their holdings in Karish and Tanin natural gas fields to Energean Oil & Gas.

Delek Group Press Release - Engagement in an Agreement for the Sale of all of the Rights in the Karish and Tanin

Energean Press Release 17.08.16 - Delek Drilling and Avner agree to sell Karish and Tanin Fields to Energean Oil & Gas

The deal, which is being undertaken as part of the implementation of the Gas Framework, set up by the Israeli government as part of their strategy to develop the energy market, is estimated to be valued at $148 million, which reflects return of Delek Drilling and Avner’s investment and future royalties from the expected sales of gas and condensate from the reservoirs.

Delek Sells Gas Fields to Greece’s Energean for $148.5 Million - BLOOMBERG

By Yaacov Benmeleh

August 17, 2016 — 10:12 AM EEST

• Delek, Noble to recieve 7.5% of future pre-tax revenue
• Companies have to sell fields to develop Leviathan reserve

Israel’s Delek Group Ltd. removed another regulatory hurdle to developing its prized Leviathan natural gas field after agreeing to sell two smaller reserves to Greece’s Energean Oil & Gas SA.

The Greek explorer will pay $148.5 million and 7.5 percent of future pretax revenue for the offshore Karish and Tanin fields, according to a Tel Aviv Stock Exchange filing late Tuesday. They hold approximately 85 billion cubic meters of natural gas, according to Delek Drilling, or about one-seventh the size of Leviathan, Israel’s largest gas find.