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Israel’s Natural Gas Potential Triple What Was Thought

Ynetnews reports: The Energy Ministry has tripled its estimate of the volume of still-undiscovered natural gas in Israeli waters.

Energy Minister Yuval Steinitz, has been presenting to international energy companies the new assessment of a potential 2,100 billion cubic meters (BCMs) of natural gas, in contrast to the 680 BCMs that the Tzemach Committee relied on to examine the government’s policy regarding the natural gas market.  The Tamar and Leviathan gas fields have already yielded 750-950 BCM of natural gas.

The ministry based its new assessment on a report prepared by French consulting firm BeicipFranlab. It found that the seabed has four relevant layers that potentially contain geological structures that could contain gas.  According to the report, the potential amount of petroleum is estimated at 6.6 billion barrels.

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