JOIN ISRAEL'S 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 65% of electricity generation.
The discovery of the giant Leviathan and Tamar gas fields in 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 mean sea level.
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.
In 2017, Israel completed its 1st offshore bid round, granting 6 new exploration licences.
The Minister of Energy, Dr. Yuval Steinitz, announced the opening of the 2nd bid round on November 4th, 2018. Bids for OBR2 can be submitted until June 2019.
The IGA (inter governmental agreement) 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.