The long-held narrative both within and without Israel is of an embattled energy-poor country surrounded by neighbors prepared to use their dominance of global oil reserves as a weapon against it. Speak with Israeli oil traders and it’s clear that they define their role in national security terms.

Of course, this paradigm has already shifted with the development of substantial gas reserves from first the 11tcf Tamar and more recently the 23tcf Leviathan field – with the recent start of exports from the latter to Egypt and Jordan a particular geopolitical breakthrough (MEES, 17 January). (CONTINUED - 373 WORDS)