Updates in Israel’s Oil & Gas Industry and UOG 2014 Post-Show Report

Firstly, the UOG team would like to wish everyone a very happy holiday season. What a year it has been! We have been very busy since UOG 2014 ended a few weeks ago and have already started planning our next big event, UOG 2015, taking place in Tel Aviv next year.

You can view the full UOG 2014 post-show report here. The report includes information on key highlights and sessions from the event, along with key statistics about the delegates which attended.

There have recently been exciting updates in Israel’s oil and gas industry. It was announced last Sunday that a recent 3D seismic survey estimates that there is at least 3.2 trillion cubic feet of gas in the Royee License, 90 miles off Israel’s coast. Experts state that further deepwater exploration is likely to find more substantial fields in Israel’s waters. Drilling of Royee (the name of the newest field) is expected to commence in December 2015.

Potential for Israel to start exporting its gas to Europe is looking more likely as energy ministers of Greece, Cyprus and Israel are currently discussing with the EU to try and advance a plan for a pipeline to export the huge quantities of newly-discovered natural gas riches in the Levantine basin. Israel has recently proposed that EU countries invest in the multi-billion euro pipeline to carry its natural gas to Europe, which will significantly improve the security of EU gas supply and reduce reliance on Russia.

The proposed pipeline will go from Israel’s Mediterranean coast to Cyprus, from where the gas would be transported to Greece, Italy and Bulgaria, and could potentially bring 8-15 billion cubic metres (bcm) of natural gas from Israel and Cyprus to Europe annually. If built, the pipeline could be the world’s longest pipeline at 1530km at depths of nearly 3000m.

We are now planning and finalising details about our next conference, UOG 2015- Israel’s 2nd Annual International Oil & Gas Conference and Exhibition, which will be taking place in Tel Aviv next year. We are very excited, and are delighted to be cooperating with major energy hubs including Texas, South America, Denmark and the Netherlands. If you would like to keep updated about details of UOG 2015 you can register your interest here.

Happy Christmukkuh!

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