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Israel Hits Record Gas Exports in Q1 2024: MEES

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Israel exported a record 1.28 bcf/d of gas to Egypt and Jordan in Q1 2024, according to MEES.

  • 1.025 bcf/d was exported to Egypt and 0.25 bcf/d went to Jordan.
  • Overall exports were up 30% on the quarter - rebounding from the Q4 dip cause by the ongoing conflict in Gaza which temporarily shut the 14 tcf Tamar field.
  • 0.939 bcf/d of Israel’s exports came from the 23 tcf Leviathan field, the field’s second-highest quarterly figure after Q3 2023.
  • Demand for Israel’s exports should remain strong in Q3 2024 as Egypt shifts to a net gas importer to avoid the power blackouts of last summer.
  • Egypt uses gas for cooling to escape extreme heat. It has halted LNG exports and has secured an FSRU – the Hoegh Galleon – to facilitate direct LNG imports.
  • Israel has ambitions to raise pipeline exports to its neighbours to 2.5 bcf 2027 year-end.

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Israel exported a record 1.28 bcf/d of gas to Egypt and Jordan in Q1 2024, according to MEES.

  • 1.025 bcf/d was exported to Egypt and 0.25 bcf/d went to Jordan.
  • Overall exports were up 30% on the quarter - rebounding from the Q4 dip cause by the ongoing conflict in Gaza which temporarily shut the 14 tcf Tamar field.
  • 0.939 bcf/d of Israel’s exports came from the 23 tcf Leviathan field, the field’s second-highest quarterly figure after Q3 2023.
  • Demand for Israel’s exports should remain strong in Q3 2024 as Egypt shifts to a net gas importer to avoid the power blackouts of last summer.
  • Egypt uses gas for cooling to escape extreme heat. It has halted LNG exports and has secured an FSRU – the Hoegh Galleon – to facilitate direct LNG imports.
  • Israel has ambitions to raise pipeline exports to its neighbours to 2.5 bcf 2027 year-end.

Keep reading...Show less