by John McNeil
The discovery of massive natural gas reserves under Israeli waters in the Mediterranean Sea in recent years presents at least as many challenges as opportunities.
The Tamar reserve, discovered in 2009, and the Leviathan reserve, discovered in 2010, contain enough natural gas to serve all of Israel’s domestic energy needs for the next 150 years. With a very small existing domestic natural gas market, however, Israel finds itself lacking both the infrastructure and regulatory framework to extract the gas and bring it to market safely and efficiently.
In an already tense geopolitical climate, Israel has no agreed land or sea border with Lebanon, and Israel’s decision to …
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