Israeli Energy Ministry Plans to Boost Natural Gas Output

Israel's Energy Ministry said on Thursday it plans to expand natural gas production that would boost competition within Israel and increase exports.

An inter-ministerial committee headed by the ministry issued final recommendations aimed at the need to raise natural gas output to meet domestic needs, encourage investment and accelerate the transition to renewable energy.
Recommendations were approved by Israel's energy minister and the ministry's director general.
Israel has become a key regional natural gas supplier with exports to Egypt and Jordan.
A key recommendation included encouraging investment in the exploration and development of new natural gas reservoirs - both offshore and onshore — and connecting them to the domestic market, including through competitive bidding processes for exploration and by encouraging seismic and other surveys.
Other recommendations included creating an attractive investment environment and maintaining a thriving sector, promoting competition within the domestic market to ensure stable prices.
The panel recommended strengthening Israel's international standing through the use of natural gas and by opening new export markets, thereby maximizing economic and geopolitical benefits derived from natural gas resources.
It also sought to secure the needs of the domestic economy by ensuring a natural gas supply characterized by high availability and reliability, while also strengthening energy security during emergencies.

(Reuters)