Natural Gas in Israel Assignment Example | Topics and Well Written Essays - 2000 words

Natural Gas in Israel - Assignment Example This means that even as it focuses on economic development, Israel must give good attention to its defense and the activities of its neighbors and maintain a robust and well thought out foreign policy. One other challenge that the country has to deal with is pollution. With the development of new industries comes more pollution. The country has taken a raft of measures to ensure that it remains stable and harvest the resource sustainably. It remains to be seen, however, how the country will deal with these challenges. Â  For a long time, the world has known the economic importance of oil and natural gas. Many countries including The United Arab Emirates and Canada are the testimony to the wealth and power that comes with having natural gas and oil as part of a country’s natural resources. Being situated in the Middle East which is associated with massive oil and natural gas reserves, Israel hoped that it too would enjoy the benefits of having oil and natural gas wells ever since its establishment as a modern country. While this was the case, the country’s prospects of discovering natural gas and oil very little promise. Â  Between 1954 and 1969, the officially country began to hunt for natural gas reserves off and onshore as noted by Forman (2013). After more a long period of searching, the Tethys Sea Partnership announced that it had discovered natural gas in the Noa field. The discovery of the Mari B field after the first discovery was a feat that sparked great interest in Israel’s coast. The year 2005 saw Israel sign a contract with Egypt for the supply of 40 percent of its yearly demand (Forman 2013). The Tamar, Dalit 1, and Levithian reserves were discovered between 2009 and 2012 marks a major breakthrough for the small country (Forman 2013). For the first time in the history of Israel, natural gas from the Tamar reserve flowed in 2013 marking another major breakthrough in the country’s history. Â