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Israel launched natural gas operation

Israel began operating its deep-water Tamar natural gas field in the Mediterranean Sea, which will play a important role by reducing its dependence from foreign energy sector. Benjamin Netanyahu said in a statement, "This is an important day for the economy in Israel. On the Festival of Freedom, we are taking an important step towards energy independence. We have advanced the natural gas sector in Israel over the last decade, which will be good for the Israeli economy and for all Israelis." Yitzhak Tshuva, the top shareholder in Delek Group and one of the partners in Tamar said, with the natural gas the cost of electricity production is predicted to fall about 50 percent.      

Israel's President Shimon Peres congratulated the Delek Group but criticized the decision that the Tamar field was launched on the Jewish Sabbath as a mistake and said that Jewish values has to be protected.      

Israel planned to export some of its natural gas to the end of 2020. Energy experts said, the reservoir in the Tamar fields will provide Israel's natural gas need for 40 years.      

Tamar is located 90km off Israel's northern coast and has an estimated 10 trillion cubic feet of gas.

Development of Tamar and Leviathan will make Israel less dependent on energy imports, but the country has said it will also allow a significant amount of its natural gas to be exported.

Tamar has already signed a number of large deals, including one to supply as much as $23bn of natural gas to Israel Electric Corp. and $4bn worth to units of conglomerate Israel Corp.

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