Gigantic gas field off the coast – Israel is helping Europe out of the energy crisis

Tel Aviv Energy policy breakthrough between Israel and Lebanon: Both states have settled their decades-long dispute over two gas fields off the Israeli-Lebanese coast. This is of great importance in terms of energy and regional policy. Israel wants to help close Europe’s energy gap. And Lebanon can hope for moderation in its chronic financial crisis, which could reduce dependence on Tehran.

“The gas that Israel is already producing from its two fields of Tamar and Leviathan could, in the medium term, replace 10 to 15 percent of the gas that the EU imported from Russia,” estimates Israeli natural gas advisor Gina Cohen. Israel currently supplies Egypt with six to seven billion cubic meters of gas per year. Some of it is liquefied in the Egyptian LNG plants and then resold via international markets. An increase in this amount would require additional expansion of the infrastructure.