Economy

Israeli Gas Exports to Egypt and Jordan Increased by 25% in 2023

Israeli Gas Exports to Egypt and Jordan Increased by 25% in 2023

Israeli Energy Minister Eli Cohen announced on Monday that gas supplies to Egypt and Jordan have increased by approximately 25% in 2023, despite brief interruptions at the beginning of the war in Gaza, indicating the potential for further expansion in exports. He stated, "The significant growth in natural gas exports to Egypt and Jordan proves that the natural gas market is a strategic asset for Israel and contributes to stability in the region."

He added that Israel is considering expanding exports to supply Europe, either through Egyptian liquefied gas facilities or by building local facilities. The Ministry of Energy reported that the Leviathan offshore field, operated by Chevron with Israeli partners, produced 6.29 billion cubic meters for Egypt and 2.71 billion for Jordan. The nearby Tamar field also exported a total of 2.56 billion cubic meters, most of which went to Egypt. Tamar, located near the Gaza Strip, experienced an 11% drop in production due to a month-long halt in operations at the beginning of the Israeli offensive against the Palestinian Islamic Resistance Movement (Hamas). Israel positions itself as a regional energy hub and is committed to supplying natural gas to Europe, which is diversifying its imports away from Russia since the invasion of Ukraine.

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