Posted on 02/26/2016 11:16:13 AM PST by bananaman22
The massive Leviathan gas field, nestled deep inside the Levantine basin off Israel’s Mediterranean coast, is considered a game-changer for both Israel and Europe, but a wide range of roadblocks is threatening development, and now production will be delayed by at least a year.
Political hurdles, regulatory approvals and tricky investment decisions have already put production off until 2019, and there are now fears that all the problems surrounding a discovery that put Israel on the energy map for the first time in history will impact prospects for future foreign investment in the country.
As the project landed in controversy, Prime Minister Benjamin Netanyahu—who once dubbed the giant gas field a ‘gift of God’—has maintained that his government's natural gas policy was in the larger interest of the country’s national security, and that it would ensure Israel’s position in the Middle East. And it is, indeed, a trump card for a country flanked by Arab OPEC giants.
(Excerpt) Read more at oilprice.com ...
Likely being held up due to design of the ant-terrorism facilities. A gas field is different than an oil field, as one requires pipelines, unless it is LNG.
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