Prime Minister Benjamin Netanyahu and Energy Minister Yuval Steinitz visited Leviathan gas field in the Mediterranean Sea on Thursday to watch the arrival of the foundation for a new drilling platform.
The foundation, which is essentially a steel frame supporting the deck of the future gas drilling rig, was delivered by sea after a monthlong journey from Texas on a 180-meter (590-foot) barge and arrived at the drilling site off Israel's coast on Thursday. The upper side of the platform is expected to arrive in the coming months.
The total investment in the development of the gas field, situated about 80 miles offshore, is expected to total some $3.5 billion and production is scheduled for late 2019.
Netanyahu and Steinitz received a briefing on the drilling site and were given a tour of the various installations as well.
Netanyahu said the gas that will be extracted from the field "is a critical component of the strategic, energy, economic and diplomatic strength of the State of Israel," noting that it will "link us to the gas economy of Europe."
He said that it would also improve relations with Israel's Arab neighbors and "first and foremost, it will supply clean gas to the citizens of Israel."
According to Netanyahu, the gas is likely to be a major boon to Israelis across the board. "Two-thirds of every shekel's worth of gas extracted from the sea here will go straight into the state treasury. This is hundreds of billions of shekels that will serve us in education, social welfare and the other vital needs of the State of Israel and the citizens of Israel," Netanyahu said. "This is a great revolution – we are turning the State of Israel into an energy power. An independent Israel will not depend on anyone for its energy needs. This is very good news and I am proud that it is happening now, this year."
Steinitz also hailed the near completion of the project, calling it "a day of celebration for all Israeli citizens." According to Steinitz, "the Leviathan gas field will change the Israeli economy for decades to come, generate billions in revenue to the state and its citizens and – most importantly – will allow Israel to stop using coal that pollutes."
