Israel Exports Crude Oil For The Very First Time

For the very first time, the first Israeli shipment of crude oil has headed toward Europe. The shipment took off from an Israeli natural gas reservoir located on the Eastern side of the Mediterranean. The announcement was made by the Greek gas company Energean which mentioned that the cargo ship carrying hydrocarbon gas liquids was exported to the global markets.

 A Landmark Moment

The delivery was an achievement for Israel which has been facing an energy crisis in the past few decades. The Energean Power Floating Production Storage and Offloading unit has been a politically controversial program as is built on a disputed area between Lebanon and Israel. Last year, Lebanon protested considering it an “invasion into the economic waters”.

Israel Reduced Dependency

Several energy explorations in the past decade have helped decrease Israel’s dependency on imported fossil fuels. The project is likely to reduce Israel’s crude oil dependency in the near future.

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