Israel this week signed a historic agreement with Jordan to supply the energy-starved kingdom with natural gas from its Leviathan gas field. The deal is worth a reported $10 billion and has instantly transformed the Jewish state into an energy exporter. In addition to the obvious pecuniary benefits to the Israeli economy, the agreement promotes regional stability by creating an energy and economic interdependence.
Israel is now looking to sign energy deals with two other regional players of import, Greece and Cyprus. Israel’s energy minister plans on traveling to Athens on Wednesday to cement agreements. The Israeli plan centers on laying a network of pipes so that natural gas can be shipped to these nations as well as other European countries. Currently, much of Europe relies on Russian gas and an alternative source would be welcome. Even Turkey, which recently exchanged ambassadors with Israel after a long hiatus, has expressed interest in cooperating with Israel in the energy sector.
Israel currently operates and lays claim to four gas fields off its coast. Two small ones are located off the shores of Ashkelon while the two larger ones – called Tamar and Leviathan – are located in the north, approximately 90 miles west of Haifa.
Leviathan should be fully operational within a few years while the other fields are already supplying Israel with natural gas. Israel derives approximately 60 percent of its electricity needs through natural gas. Energy officials estimate that since the gas began flowing just over a decade ago, Israel has saved approximately 35.5 billion shekels which translates to $9.6 billion.
The welcome news however, comes with cost. Lebanon, which is controlled by Hezbollah, which in turn receives its marching orders from Iran, has laid claim to Israel’s energy finds. Lebanon’s maritime and territorial claims are wholly without merit and it is a virtual certainty that they were made at the behest of either Hezbollah or Iran or both.
While Lebanon’s navy is negligible and poses no threat to Israel and its off-shore gas platforms, Hezbollah does pose a more significant threat. Hezbollah possesses a number of Chinese C-802 radar guided anti-ship missiles. A missile of this type damaged an Israeli corvette, the INS Hanit, during the 2006 Lebanon War (the ship was repaired and returned to service 3 weeks later) and sunk a civilian Egyptian ship cruising some 37 miles from shore.