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January 27, 2015The Middle East is Awash with Natural Gas Fields
According to many reliable sources, approximately 41% of the world’s natural gas reserves are located in the Middle East. Primarily, in descending order, in: Iran, Qatar, Saudi Arabia, United Arab Emirates and Iraq. Natural gas is a clean alternative to coal, safer than nuclear power facilities, and can be brought to market quickly. This makes natural gas a preferable energy source for Middle Eastern nations – a preference luckily being supported by many new gas discoveries in countries throughout the region.
Snapshot of Natural Gas Explorations and Development in the Region
In November, Genel Energy announced an agreement with the Kurdistan government that will allow the development of two gas fields in Iraqi Kurdistan: Miran and Bina Bawi. Genel and Kurdistan are looking forward to exporting gas to Turkey, utilizing the same route as the current oil pipeline.
Levantine Basin
Israel’s recent natural gas discoveries have the potential to make the country energy independent, as well as a major exporter of gas to the eastern Mediterranean and beyond. To date, Israel has discovered 30 trillion cubic feet of gas reserves in its coastal waters. The Leviathan field, the largest of Israel’s natural gas fields discovered so far, is estimated to hold natural gas worth billions of dollars.
The Algerian government is predicting an increase of at least 40% in natural gas production within the next five years. Recovering from recent terrorist attacks, natural gas production is finally on the rise once again. According to Algeria’s energy minister, Yousef Al-Yousefi, natural gas production will double within the coming decade.
Storage Facilities and New Transportation Infrastructure
Last fall, Iran announced the opening of what would be the Middle East’s largest liquefied gas storage facility. The new plant—Shourijeh—is intended to diminish Iran’s imports of natural gas from Turkmenistan, which currently stand at roughly 5% of the country’s consumption. Shourijeh can provide 4.8b cubic meters of natural gas, making Iran the leading country in the Middle East in terms of natural gas storage capacity.
8 Comments
Wow! really a nice article. Truely a informational one…
Amazing new potential for money for the surrounding region. I hope it can bring peace also to the region.
The Middle East has an even larger potential for gathering and storing solar energy and many countries are investing in development and infrastructure of this renewable source of energy. Natural gas is a “cleaner” alternative to coal but it is still not completely “clean.” Methane leakage into the atmosphere from natural gas has been measured to be far greater than once thought.
Potentially very good news for many areas of the World!
he Middle-East and North Africa region has around 50% of the world’s proven conventional natural gas
reserves.Israel’s Supreme Court upheld a decision by the Knesset that the Government may export up to 40% of the Mediterranean gas.
Natural Gas, is by far our Greatest need. With Israel as our ally, if
they would be willing to export to the United States….. This would
benefit us Greatly!!!
Is any fuel energy replacement for natural gas other then nuclear energy? we have to find for future generation
Great info on the natural gas fields. Definitely a well structured and lucid article here.