3 Must Know Facts About Israel’s New Gas and Oil Industry
1. Israel headed toward energy independence, gas exporter
For the 65 years since Israel became a nation, the energy resources for natural gas and oil needs have come almost exclusively from other places. Now, it’s quite realistic that Israel will become 100% independent with the recent discoveries of massive natural gas fields and the potential for producible onshore oil. The Tamar Reservoir, lying within Israel’s maritime borders, has successfully produced enough gas to supply Israel for decades. And even larger fields are expected to start producing soon.
2. Estimates say energy savings for Israeli consumers around $100 billion
Energy savings are already being passed on through the work of offshore natural gas production. For some experts, predicting up to $100 billion in savings is realistic, even easy. This means that Israel’s electric grid could be completely powered by its own natural gas resources, a cheaper and cleaner energy value to the nation.
3. Environmental benefit equal to taking every Israeli car off the road for a year
Experts say the cleaner energy production provided by the Tamar Reservoir will save 17 million metric tons of CO2 emissions from entering Israeli air. In common terms, that’s the equivalent of taking every car in Israel off the road for a year.
What does this mean for Zion production onshore?
We at Zion Oil & Gas applaud the success of Israel’s finds offshore while we continue to explore onshore. Please contact us if you have any questions.