Suppose that Israel finds an enormous gas field in its Mediterranean waters. Overnight, Israel goes from being an energy-poor importer to a major exporter. The won’t need to import any oil-everything runs on CNG.
What would happen to the power balance in the ME?
Would Israel have the potential to replace Russia as an exporter to W Europe?
I think it would calm things down-having Israel as a supplier would be more attractive to european countries-what do you think?
Um, Israel has discovered an enormous gas field, the Leviathan, and will be an energy exporter. Discussed here almost a year ago.
and “Overnight” is quite a stretch. It will take several more years to develop the fields. And remember the world has a LOT of natural gas right now. Exporting the stuff may not be an economic windfall that people assume.