Sunday, January 18, 2009

Israel eyes gas bonanza from large offshore find

JERUSALEM, Jan 18 (Reuters) - A U.S.-Israeli exploration group said on Sunday it has discovered large natural gas deposits in the eastern Mediterranean with the potential to meet Israel's gas needs for well over a decade.

Led by Noble Energy (NBL.N), the group said it found more than 3 trillion cubic feet (88 billion cubic meters) of gas at the Tamar exploration well, 90 km off the Israeli northern port of Haifa.

News of the deposit, which is three times as large as a site already in production off the country's southern coast, sent energy shares soaring in a country anxious to reduce its dependency on foreign fuel.

"This is one of the most significant prospects that we have ever tested and appears to be the largest discovery in the company's history," Charles Davidson, Noble's chief executive, said in a statement.

Full story here

This could be huge in so many ways!



Mid Stutsman said...

It IS huge!! Israel is prophecied to be prosperous before the "end" comes...this could lead to that situation and really spur on the Gog-Magog war!!

Don said...

Will this discovery be the event that provides the "hook in the jaw" (Ezek. 38:4), drawing the Gog-Magog nations into war with Israel? Could be! Stay tuned!


Mid Stutsman said...

Isaiah 60 verse 5:
Then thou shalt see, and flow together, and thine heart shall fear, and be enlarged; because the abundance of the sea shall be converted unto thee, the forces of the Gentiles shall come unto thee.

Wow...just read this, this morning!! Interesting


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