Noble flows Noa gas

The Israeli flag is seen flying over the Western Wall and the golden cupola of the Dome of the Rock mosque, in Jerusalem's Old City, Friday Jan. 30, 2009. (AP Photo/Peter Dejong)

Israel: Noble has started to flow gas from the Noa field

AP PHOTO/PETER DEJONG

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News Wires

 25 June 2012 02:08 GMT

Natural gas from the Noa field in the Mediterranean has started to flow, which will help Israel prevent an electricity shortage in the wake of Egypt's decision to cut natural gas supplies.

Field partner Delek Drilling said in a statement to the Tel Aviv Stock Exchange that gas began flowing on Saturday.

The new supplies will replace more expensive and dirtier fuels Israel has had to turn to, like diesel and fuel oil, and save the economy about $170 million this summer. Israeli electricity rates have jumped as natural gas supply dwindled, Reuters reported.

Last month, Noble Energy and its partners, which include Delek Drilling, began laying pipelines connecting Noa and the nearby Pinnacles prospects to the larger Mari-B well off Israel's Mediterranean coast.

Mari-B is…

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