Israel’s Ministry of Energy has given its preliminary approval to increase natural gas exports from the Leviathan reservoir off the country’s Mediterranean coast, alongside an expansion of gas supply to the domestic market. The ministry gave the green light for the export of an additional 118 bcm of natural gas from the Leviathan field, in addition to the 105 bcm previously approved.
Israel's NewMed Energy (former Delek Drilling), which owns a 45.3% stake in the Leviathan field, and its partners intend to invest US$400m to US$500m in the field, adding that additional exports could rise to 145 bcm in the future if certain conditions were fulfilled.
In addition, the petroleum commissioner at the Ministry of Energy has indicated to NewMed and its partners that they will be allowed to expand gas production substantially from the Leviathan field, from about 12 bcm currently to 21 bcm.
Overall, Israel has total proved gas reserves of about 709 bcm (2023). The country produced over 25 bcm and exported more than 11 bcm in 2023.