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Israel Plans Gas Exports to Europe as Output Surges by 22%

  • Gas royalties rise about 50% due to increased output
  • Trilateral deal will increase shipments to European Union
Updated on

Israel’s natural gas production surged 22% in the first half of the year, as the government plans to ramp up exports that will make their way to Europe, where the worst energy crisis in decades is under way.

Production rose to 10.85 billion cubic meters year-on-year through June, with exports to Israel’s neighbors rising by 35% to 4.59 billion cubic meters, according to the energy ministry. Much of the increase is due to production from the Tamar and Leviathan reservoirs in the eastern Mediterranean.