JOIN ISRAEL GAS REVOLUTION!
In the past 15 years, Israel had transformed from a net importer of fossil fuels to self-sufficient in its gas consumption, presently providing for 50% of electricity generation.
The discovery of the giant Leviathan and Tamar gas fields in Oligo-Miocene turbidite sands offshore Israel have established the Levant Basin as a world-class petroleum province. To date, 10 gas fields of various sizes have already been found in water depths of up to 1800m below MSL.
The Ministry of Energy is promoting the development of Israel's natural gas resources through the entire supply-chain, from exploration and production to transport and distribution to industries and households. The Ministry is seeking to expand the offshore exploration activity and is committed to provide long-term regulatory stability and a favorable investment environment. Our vision is to bring the benefits of natural gas not only to the Israeli economy but also to the entire Eastern Mediterranean region
At the end of the 1st bid round, Energean and a consortium of companies from India, were granted 6 new exlporation licenses, which they bid on.
The 2nd licensing round was launched on November 4th, 2018, further details will be published soon. Stay tuned!
The IGA between Italy, Greece, Cyprus and Israel, on the East-Mediterranean Pipeline Systen is expected to be signed by the end of 2018. The MOU between the Parties was signed by the Ministers back in December 2017.