Aug. 31, 2012 at 12:40 PM–RISHON LEZION, Israel, Aug. 31 (UPI) — Israel has long been a major importer of energy supplies, including oil and natural gas, but recent discoveries have drawn positive outlook for the Israeli energy sector.

Barclays Capital has given a “positive” outlook on Israel’s energy exploration and production, citing the scheduled start of commercial production from the eastern Mediterranean Tamar gas field by mid-2013.

Barclays also noted the finalizing of supply contracts with Israel Electric Corp., which has been able to secure financing for the field’s development.

In its analysis Barclay Capital noted despite the natural gas fields being in contested areas, “Leviathan is one of the largest natural gas discoveries globally in the past decade and commercializing the resource will require the introduction of strategic partners,” Israel’s Globes business newspaper reported.

U.S. company Noble Energy Inc. said on its second quarter 2012 earnings call in May that it was pleased with the interest shown in its Leviathan marketing effort and continues to move toward a new partner announcement by year-end, Barclays Capital said…Read More>>

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