Posted on 09/09/2014 5:45:53 AM PDT by thackney
Israel is hoping to lure U.S. exploration and production companies to take advantage of its new offshore opportunities.
So far, Houston’s Noble Energy is the only U.S. player there, after its discovery of major gas fields below the Mediterranean Sea.
Reporter Rhiannon Meyers details how Israel is searching for inspiration and expertise in Texas.
“Ultimately, Texas is the hub of the global oil and gas industry,” Joshua Beagelman, who is organizing the nation’s first international oil and gas conference in the fall, told her.
Noble Energy's discovery of major gas fields deep below the Mediterranean Sea off the country's coastline changed Israel's energy landscape and will allow the nation to begin exporting natural gas for the first time in its history....
srael needed updated regulations and policies to govern drilling and leasing. Moreover, Israeli companies on the whole lack experience exploring and producing oil and gas.
Texas, with its long history of oil booms and busts, offers a wealth of expertise for a country new to the energy game, Beagelman said in an interview with the Chronicle....
"To put this into a bit of context, the combination of the Tamar and Leviathan gas is enough to supply Israel for roughly 100 years at their current demand," said Keith Elliott, Noble's senior vice president for the Eastern Mediterranean....
The U.S. shale boom also may be thwarting Israel's ambitions. As advances in drilling technology and well completion unlock vast new supplies of oil and gas, U.S. companies may prefer to bet on a domestic energy market with established policies and regulations rather than sink their money into an environment with newly crafted rules, Niddam-Wachsman said....
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Lots more info at the Houston Chronicle link:
Israel knows that Texas gas and oil men are the best. Obama’s Depression was averted by their expertise and daring. He ought to be eternally grateful, but he isn’t. In fact, that scum ball has the gall to try to take credit for the oil and gas boom when he did nothing but fight it by opposing the XL pipeline and banning fracking on federal lands.
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