Israel's Ministry of Energy and Infrastructure has announced a large-scale tender for the discovery of new natural gas deposits in the country's exclusive economic zone in the Mediterranean Sea.
According to the ministry, the tender covers five promising marine areas with a total area of approximately 7,100 square kilometers. Based on preliminary assessments, these areas are projected to contain natural gas reserves of up to 400 billion cubic meters.
Strategic Move and Expected Results
Energy Minister Eli Koen emphasized that natural gas is one of Israel's most important strategic resources, stating that this move will further strengthen the country's energy security and international position. The minister noted that this project, which was delayed for some time due to the complex situation in the region, offers significant economic prospects for the country:
- Domestic market supply: New exploration work will strengthen domestic energy supply.
- Economic benefits: The project is expected to optimize electricity prices and increase competition.
- Budget revenues: According to projections, new deposits will bring hundreds of billions of shekels to the state budget over the next 30 years.
Export and Domestic Demand Balance
Currently, Israel's energy needs are primarily met by the Tamar and Leviathan fields. The country, with annual domestic consumption of 14 billion cubic meters, also exports gas to Egypt and Jordan. According to the tender terms, the first 50 billion cubic meters of gas produced from new deposits will be directed exclusively to Israel's domestic needs. Production beyond this amount will be divided between the domestic market and exports.
International Cooperation and Next Steps
The Israeli government is interested in the participation of international energy companies in the tender. It is worth noting that currently, prestigious companies such as Chevron of the United States, BP of Great Britain, and the State Oil Company of Azerbaijan (SOCAR) operate in Israel's marine fields.
Applications from energy companies will be accepted until the end of 2026. Drilling licenses are expected to be issued in early 2027.