Gregg Carlstrom, Tel Aviv
September 7 2016, 12:00am, The Times
Israel has discovered major new reserves of natural gas off its Mediterranean coast, the energy ministry has told investors in London.Officials compared the new find to the Zohr field, the largest in the region, discovered last year in Egypt. Data about the new deposit, called Jonah, is still preliminary however; Israel will auction exploration licences in November to conduct a more thorough investigation.
The discovery could further reshape Israel’s fast-changing role in world energy markets. A long-time importer, the country has recently become a major player in the natural gas industry, with large fields that could produce $270 billion…
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