Israeli Energy Minister Israel Katz stated on Wednesday that "more of Israel's natural gas reserves should be allocated for export in light of the renewed interest in offshore exploration and the renewed discussion regarding the importance of retaining gas for domestic use." During a tour of the Leviathan gas field, he mentioned that "our ability to export gas, in a measured manner, is a great diplomatic tool that strengthens Israel's position in the region and the world." The Leviathan field is the largest in the country. The partners in the project, which include Chevron, the operator of the field, as well as Israeli companies Newmed and Ratio Energies, aim to increase production from 12 billion cubic meters to 21 billion cubic meters annually.
Katz noted, "When we consider the economic side and the diplomatic benefit of strengthening Israel's position, we certainly need to make a decision to increase gas exports according to the required quantity," though he did not provide specific figures. Huge gas reserves have been discovered in recent years in the Mediterranean Sea off Israel, but the government has imposed restrictions on the quantity that can be exported to ensure the local market retains enough for future needs.
Katz's public support for increasing export quantities, a decision not yet made officially by the government, has faced criticism from lobby groups warning that Israel may suffer from gas shortages as domestic demand rises, and they have raised concerns about potential environmental damage due to increased offshore activity. The non-profit organization Lobby 99 stated, "This is a fateful decision that may bring sorrow for generations."
The issue has been a subject of heated debate for years, revived last month when a senior official in the Israeli Ministry of Finance, who oversees budget affairs, warned that the state risks exporting too much gas, jeopardizing energy security. In 2022, energy companies in Israel produced 21.29 billion cubic meters of natural gas, with 9.21 billion cubic meters exported, primarily to Egypt and Jordan. Israel now finds itself at a crossroads regarding energy issues.
Israel aims to double gas production in the coming years and reach new markets, including Europe, which is seeking new energy sources. This month, the Ministry of Energy granted exploration permits in four areas to groups comprising a total of nine companies through a bidding process.
