A reserve of up to 6 trillion cubic feet of natural gas has been found off the coast of Israel. The gas could be worth up to $7.54 billion at current prices, the Israeli daily business publication Gloves reported Feb. 2.
The prospective resources in two gas fields were discovered by Canadian Bontan Oil and Gas Company. They are located off the Mediterranean coast close to Haifa, near two gas fields that were discovered last year. — jta