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Israel Leviathan Plans Boost for European Gas Security

NATGAS

The Israeli Ministry of Energy has allowed the export of additional natural gas from the Leviathan reservoir in a total quantity of up to 118 BCM, which may increase to up to 145 BCM upon fulfillment of certain conditions NewMed said in a press release Wednesday.

  • Previously 105BCM had been approved.
  • Leviathan currently produces 12 bcm a year, and that will gradually rise to about 21 bcm a year, NewMed said.
  • Israel’s Energy Minister Eli Cohen said the decision to more than double the amount of gas allowed for exports in the eastern Mediterranean would strengthen diplomatic ties, improve Israel's energy security and bring an added windfall to the economy.
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