Israel, Cyprus Deal On Gas, Lebanon Snubs Talks
From Daily Star
Israel’s biggest gas discovery, potentially turning the fuel importer into an exporter, is prompting a race by nations from Lebanon to Turkey to tap similar deposits in disputed waters of the East Mediterranean.
Noble Energy is developing the Leviathan and Tamar fields off Israel that hold about 30 trillion cubic feet of gas, more than triple the U.K.’s remaining reserves and worth about $670 billion at today’s prices. The Houston-based company is also behind the Aphrodite discovery off Cyprus.