Israel has grand plans to ride to Europe’s rescue by offering a ready supply of natural gas to help the continent shake off its reliance…

Source: foreignpolicy.com

"Despite what Israeli officials say, it’s hard to see how a new pipeline with smallish amounts of natural gas could be competitive against long-established pipelines carrying large volumes of Russian gas. And price matters, because even if parts of Europe are desperately worried about relying too much on Moscow for their energy supplies, paying to ensure an alternative is a different matter entirely.

…

Israeli politicians are confusing geostrategic goals with the way that the market actually works, much like the politicians in the United States who have pitched U.S. LNG as a way to rescue Europe. Israeli and American firms working the gas fields — not the Israeli government — make decisions about where and how to export the gas. ‘Shalom is selling a horse he doesn’t own,’ she said, referring to the Israeli energy minister."

See on Scoop.it – Oil and Gas Development in Lebanon and East Mediterranean