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ISBN: 978-9948-846-69-7

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17 Jan 2022
Economic Trends Series (4)

Transformation in Israel’s Natural Gas Sector And the Great Potential for Middle East

Prof. Glen Segell

Abstract

Since October 2020 there is a new actor in Israel’s maritime space and energy sector after the Chevron Corporation acquired Noble Energy. This article examines the key developments of the first year of Chevron in Israel under the headings: financial aspects, regional politics, the UAE and the Abraham Accords, the EastMed natural gas pipeline, security aspects, Chevron and local companies and scandals and environmental aspects. The analysis determines the historical significances and projects ways forward for a win-win outcome for Chevron and Israel. Chevron has the ability to make the EastMed pipeline happen, and that may also have positive ramifications for regional politics. Israel as a regulator will not permit Chevron to gain a larger stake of the gas fields, or even increase prices for the energy it sells to IEC (and eventually the consumers). Israel will aim to ensure that Chevron will not cut corners that could result in labor issues, health, safety and environmental issues. The Israeli Navy has procured four new warships to meet the gas fields’ direct security needs, permitting a Brown Water doctrine shift while enabling enhanced power projection capability.

ABOUT THE AUTHOR

Professor Glen Segell (DPhil, FRGS) is Visiting Professor and Research Fellow in the Department of Political Studies and Governance at the University of the Free State, South Africa, and Visiting Professor in the Department of Political Science, Niger Delta University, Nigeria. He is also Research Fellow at the Ezri Center for Iran & Gulf Studies, University of Haifa, Israel, and Associate of the Think Tank for the Research of Islam, and Muslims in Africa (RIMA). He is Editor of The Middle East Tracker and The London Security Policy Study. He is a Member of the Editorial Advisory Boards of the Journal of European and American Intelligence Studies and of Cyber, Intelligence and Security (INSS).