"Delek Group will continue drilling in the hope of finding more natural gas reserves," Delek Group Ltd. (TASE: DLEKG) chairman Yitzhak Tshuva said today at the Tshuva Children scholarships award ceremony at the Netanya Academic College.
Tshuva gave 300 scholarships today, bringing the total number of scholarships to 3,000 for a total disbursement of NIS 8 million.
Tshuva added that the natural gas discoveries by his company could meet Israel's gas needs for many years, and even enable exports. Discoveries at the Tamar and Michal prospects this year amount to 156 billion cubic meters, and Israel currently consumes three billion cubic meters of gas a year.
Tshuva said that he hoped that his vision of the Red-Dead Sea Canal would be built. The canal would exploit the 400-meter difference in altitude between the Red Sea and Dead Sea to desalinate one billion cubic meters of water a year, enable the settlement of six million people in Israel and Jordan, and create one million jobs. He said that the canal could be built within two years without costing the Israeli government a dime.
Published by Globes [online], Israel business news - www.globes-online.com - on May 24, 2009
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