If you are an European country, you need to pay $15/natural gas unit vs in America, where the corresponding price is $4. This is due to the price gauging of the Russians.
There is a new dawn in the energy field in Europe. It has to do with the oil and gas fields of the Eastern Mediterranean. The Levantine field (consisting of the Leviathan and Tamar fields) comes under the control of Israel and next to the Leviathan field is the Cypriot field, estimated to contain $400B worth of gas.
Exploration and infrastructure buildup is done for the Cypriot field and drilling may commence this year. Israel has a working gas well in the Tamar field. Unknown amounts of huge oil field lie below the gas field in the Leviathan and probably the Tamar. Houston-based Nobel Energy is doing the work in the Levantine basin.
Sunday, April 28, 2013
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