Israel natural gas

Israel is positioning itself as a regional energy hub and has committed to supply natural gas to Europe, which has been diversifying away from Russia since its invasion of Ukraine.

From 2008 until the political turmoil in Egypt following the Arab Spring of 2011, the pipeline supplied about half of Israel’s natural gas needs.

Environmental experts say Israel “out of sync” with global aims to reduce greenhouse gas emissions in the face of global boiling.

A total of nine companies, five of which were new to the Israeli market, placed bids on Israeli offshore hydrocarbon exploration.

With its substantial savings, increased reserves, and environmental contributions, Israel's natural gas revolution has significantly impacted the economy, paving the way for a promising future.

The development of the fields has been held up for over two decades due to disputes with Israel and economic difficulties, including disputes surrounding an agreement granting Israel surplus gas.

"We have preserved Israel's security interests, we are on our way to a historic agreement," Yair Lapid's national security adviser says.

"It wasn't too bad to reduce the excise tax, and what [Financie Minister Avigdor] Liberman did so far is reasonable,” said Steinitz.

On Friday, in advance of Hochstein’s visit, the Lebanese Foreign Minister expressed optimism that an agreement over the long-simmering dispute could be reached,

The EU declared that it would also help Egypt and Israel increase gas production and exploration in their respective territorial waters.

By prioritizing natural gas rather than renewables, Israel is essentially saying that we prefer the comfort and convenience of the present generation over our grandchildren's future.