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For Israel, Energy Boom Could Make Friends Out of Enemies

(New York Times) Peter Baker - Israel is pushing ahead with an ambitious strategy to tap offshore gas reserves that could transform its economy and its place in a historically hostile region. If all goes according to plan, Israel will not only become largely energy-independent, it will also supply neighbors that will have new reason to be friends. Israel's energy minister, Yuval Steinitz, credited energy for a recent reconciliation with Turkey. In September, Jordan signed an agreement to buy $10 billion in natural gas over the next 15 years, which would supply 40% of its electricity. Officials are contemplating a pipeline to Cyprus, Greece and eventually Italy to access European markets. Israeli gas now produces more than half of Israel's electricity.
2017-01-20 00:00:00
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