The Dec. 25 agreement gives Russia’s state-controlled Soyuzneftegas exclusive exploration, development and production rights over 850 square miles of Syria’s Exclusive Economic Zone in an area known as Block 2 roughly between the coastal cities of Banias and Tartous. The deal gives the Russians, one of the world’s leading energy producers, their first real foothold in the Levant Basin, considered to be rich in natural gas. Israel, which hit major gas fields in 2009-10, containing an estimated 30 tcf, is the more advanced in terms of developing its gas reserves, which are likely much higher. Its Tamar field began producing in […]