Israel Matzav: Israel to gain energy independence?

Israel to gain energy independence?

Business Week reports that because the natural gas tracts discovered off Israel's Mediterranean coast are substantially larger than previously believed, Israel may actually gain energy independence.

As CEO of Delek Drilling, an Israeli oil and gas exploration company, Zvi Greenfeld is a self-proclaimed optimist in an extremely risky business. But even Greenfeld was taken aback by the news on Aug. 11 that the huge natural gas reserves off the country's central and northern Mediterranean coast discovered by Delek and its partners in January are 16% bigger than estimated just one month ago. Independent energy experts reckon this once energy-poor country now has enough natural gas to meet its needs for the next two decades and may ultimately even transform itself into an energy exporter.

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Israel Matzav: Israel to gain energy independence?