Israel will increase natural gas production to enter the European market
According to the Ministry of Energy, in the next few years the country will increase gas production from 20 billion cubic meters to about 40 billion cubic meters. New fields will be launched for this purpose.
Representatives of the agency said that in the next few years the country will be able to increase gas production from 20 billion cubic meters to about 40 billion cubic meters as current projects expand and new fields are launched.
Israel currently supplies gas to its own market and exports to Egypt and Jordan through a local pipeline network. Most of the extra gas is destined for Europe. However, the government believes that they will be able to enter the European market in the near future and sell their gas there.
“We hope to create a relatively fast work process and reach an agreement this summer,” said Lior Shilat, director general of the Israeli Ministry of Energy.
The official visited a drilling vessel in Karish, a gas field 90 km off the coast of Israel. This gas source is expected to be commissioned later this year.
In the case of successful gas production in Israel is expected to reach a sufficient volume of production to conclude agreements with European countries.
“Initially, these will be small volumes, and gradually, as production and delivery capacity grow, they will increase,” Shillat said.
According to him, such agreements are usually reached between governments, and then agreements are concluded in the private sector. According to forecasts, Israel will be able to sell gas to European countries no earlier than 2024.