Two Israeli natural gas fields to start pumping in 2020 - TIMES OF ISRAEL / AFP

Part of a platform being taken from the coast of Israel toward
the Tamar gas field (courtesy Noble Energy)

August 8, 2017, 5:11 pm

Energy minister says development of Karish and Tanin deposits will lead to increased competition, lower gas prices

The Energy Ministry officially presented its plan Tuesday for developing the Karish and Tanin natural gas fields, which sit alongside the larger Tamar and Leviathan deposits in Israel’s economic waters in the Mediterranean.

The development plan “shows [Israel’s ability] to keep to the schedule” of development,” Energy Minister Yuval Steinitz said in a statement. Once the new fields are operational, “competition will increase and prices… will fall.”

The plan calls for Karish, or “shark,” to be developed first, followed by Tanin, or “crocodile,” if there is sufficient demand in the Israeli market.

Israel needs a plan B for gas - IN CYPRUS / CYPRUS WEEKLY

July 23, 2017
Gina Cohen

Israel’s Ministry of National Infrastructure, Energy, and Water Resources postponed the oil and gas licence exploration tender for a second time in June, giving a new deadline of November 15. The Ministry of Energy is not at fault. It gets an ‘A’ for having the courage of its convictions, for holding the tender under very difficult circumstances, and for the work, effort and professionalism put into the marketing process. Yet despite the fact that some of the world’s major companies have bid in the tenders held this year in Cyprus, Egypt and Lebanon, they decided to give Israel a wider berth. We must therefore conclude that, under the current circumstances, nothing is about to change that will entice companies to bid by the new deadline of November 15. We need to adopt a new path, as postponing the tender and adopting a ‘more of the same’ approach is unlikely to lead to different results. There are around seven pertinent reasons behind the ongoing postponements of the tender.

Update on Israeli natural gas industry - ENGINEER LIVE

11th January 2017

Israeli natural gas industry – where do we go now?

Partners Shiri Shaham and Simon Weintraub at Israeli law firm Yigal Arnon & Co. explore the natural gas industry in Israel

After years of deliberations, negotiations and amendments, the Israeli government recently adopted its final framework for the regulation of the burgeoning natural gas sector. This exciting development is a reflection of the country’s vibrant democracy, strong rule of law and climate of regulatory certainty; it will hopefully foster geopolitical stability in the eastern Mediterranean basin, and will potentially promote economic co-development projects and unprecedented investment opportunities in the region.

Israel approves sale of offshore gas rights to Greek firm - TIMES OF ISRAEL

December 6, 2016, 10:37 pm
BY AFP, Times of Israel staff contributed to this report

Noble Energy and Delek’s $150 million deal with Energean aims to resolve anti-trust issues
Israel gave the green light on Tuesday for the sale of two gas fields in the eastern Mediterranean to the Greek firm Energean, Energy Minister Yuval Steinitz announced.

The two fields, named Karish and Tanin and estimated to hold 60 billion cubic meters (2.1 billion cubic feet) of gas, had initially been allocated to a consortium grouping US firm Noble Energy and the Israeli group Delek, which already control two much larger fields.

“We have decided to put an end to this monopoly situation,” Steinitz told public radio, explaining the consortium’s sale of exploitation rights in the two fields to Energean for $150 million (NIS 570 million).

The Israeli natural gas industry: where do we go now? - PIPELINES INTERNATIONAL

SEPTEMBER 20, 2016

Partners Shiri Shaham and Simon Weintraub at Israeli law firm Yigal Arnon & Co explore the natural gas industry in Israel.

After years of deliberations, negotiations and amendments, the Israeli government recently adopted its final framework for the regulation of the burgeoning natural gas sector.

This exciting development is a reflection of the country’s vibrant democracy, strong rule of law, and climate of regulatory certainty; it will hopefully foster geopolitical stability in the eastern Mediterranean basin, and will potentially promote economic co-development projects and unprecedented investment opportunities in the region.

Private sector key to Israeli exports to Turkey: Damnus - NATURAL GAS EUROPE

July 04th, 2016

After the "win-win" agreement between Turkey and Israel, energy relations may take time to bear fruit, Nusret Comert, the chairman of Damnus Energy, told NGE. Comert, who has over 30 years of experience in the global gas industry, is an expert on relations in the eastern Mediterranean. He talked about the recent rapprochement between Israel and Turkey, as well as between Russia and Turkey.

“Israel gas may ship to Turkey in three years time, but steps need to be taken by private sector companies in both Israel and Turkey,” Comert said, who headed Shell Turkey over ten years. “The agreement between two countries will form the basis for expanding energy relations between the two countries. However, politicians will not waste more time with talking, which may postpone investment decisions as well as blurring the political environment,” Comert said.

Israeli Natural Gas Industry – Where do we go now? - OILFIELD TECHNOLOGY

Partners Shiri Shaham and Simon Weintraub at Israeli law firm Yigal Arnon & Co. explore the natural gas industry in Israel.

After years of deliberations, negotiations and amendments, the Israeli government recently adopted its final framework for the regulation of the burgeoning natural gas sector. This exciting development is a reflection of the country’s vibrant democracy, strong rule of law, and climate of regulatory certainty; it will hopefully foster geopolitical stability in the eastern Mediterranean basin, and will potentially promote economic co-development projects and unprecedented investment opportunities in the region.

Israel settles gas saga - IN CYPRUS / CYPRUS WEEKLY

Charles Ellinas — 29/05/2016

Israel has finally settled the long-running saga of the gas regulatory framework agreement with the gas companies.

It has also reached a deal with Egypt to settle the dispute that has arisen after the decision by the International Arbitration Court to award a $1.73-billion compensation to Israeli Electric Corporation against Egypt’s EGAS for discontinuing gas supplies in 2012.
But these do not necessarily mean that Leviathan gas will now be exported to Egypt. Such a deal also needs signed commercial gas sales agreements.

Israeli cabinet approves new natural gas agreement - GLOBES

22/05/2016, Hedy Cohen

The new gas field development agreement has a stability clause, which is more flexible than the one struck down by the High Court.

The cabinet today approved by a large majority the natural gas plan with a new and more flexible stability clause. The only minister to vote against it was Minister of Environment Protection Avi Gabai. The new clause does not commit future governments. According to the cabinet resolution approved today, the government promises to act in favor of regulatory stability for 10 years in the gas sector, but does not guarantee that nothing will be changed in taxation, ownership of the reservoirs, and exports. In contrast to the previous stability clause, the government will not oppose private members' bills seeking to make such changes.

Israel top court strikes down gas development deal - MIDDLE EAST EYE

Court suspended ruling for one year to allow parliament time to amend objectionable stability clause

Monday 28 March 2016

Israel's top court on Sunday struck down Prime Minister Benjamin Netanyahu's landmark natural gas policy aimed at paving the way for the exploitation of Mediterranean gas reserves, while suspending formally striking the law for one year so that he and parliament can fix an objectionable clause.

A panel of Supreme Court justices said in their ruling that a clause in the plan that prevented it from being changed for a decade was unacceptable.

"We have decided to cancel the gas deal because of the stability clause" that would have barred future governments from altering the deal, the justices said. They suspended the ruling for a year to enable parliament to amend the agreement.