ISRAELI GAS EXPLORATION
ENERDATA - 3 Jun 2022 - The Israeli Ministry of Energy will award new gas licenses to companies that seek to explore off the country’s shores as Europe seeks to find alternative gas supplies to replace those previously obtained from Russia. Israel is preparing its fourth competitive round for natural gas exploration in its economic waters, which is set to start in the third quarter of 2022. In December 2021, the country stopped awarding gas licenses for a year to focus on renewable energy.
Israel’s proven gas reserves are very large, at a current estimated level of about 538 bcm (end of 2021). Production increased very rapidly from 2.5 bcm in 2012 to almost 13 bcm in 2020 (+23%/year on average, including +45% in 2020).