In the video: Israel opens a new competition procedure for the search for natural gas in water/Photo: L.A.M
A new record in natural gas and mineral royalties: The Ministry of Energy and Infrastructure reports that in 2023 it collected a record amount of NIS 2.19 billion for natural gas royalties.
This is an increase of about half a billion shekels compared to the figures for 2022. The accumulated state revenues from natural gas so far have exceeded 25 billion shekels.
The Royalties, Accounting and Economics Division in the Natural Resources Administration of the Ministry of Energy and Infrastructure today publishes the annual revenue report, from which it appears that in 2023, a record revenue of approximately NIS 2.19 billion was recorded, from natural gas royalties, minerals and fees. This is an increase of 28.8%, approximately half a billion NIS, compared to revenues in 2022, which amounted to NIS 1.7 billion.
So far, the cumulative state revenues from natural gas amount to over NIS 25 billion, since the beginning of natural gas production in Israel. Of this, NIS 12.8 billion from royalties collected by the ministry, and the balance from the levy Natural resources profits and corporate tax collected by the tax authority.
Leviathan reservoir.
The cumulative state revenues from natural gas amount to over NIS 25 billion so far/official website, Albatross
In 2023, there was an increase of about 25% in the amount of natural gas exports to Egypt and Jordan, which made possible, among other things, the basic electricity supply to the countries, and in addition, the export to Europe was also made possible part of the time as part of the efforts to help natural gas demand in Europe.
In the past year, there was also an increase of about 13.9% in the total amount of natural gas production compared to 2022. From the analysis of the data, it appears that the total production of natural gas for the domestic economy of the two largest reservoirs in Israel, "Tamar" and "Leviathan", decreased, and this is due to the introduction of the " Harish" as an additional producer and creating a more competitive environment in the natural gas market in Israel.
The Minister of Energy and Infrastructure, Eli Cohen: "The jump in the collection of royalties to more than NIS 2 billion per year is good news for the Israeli economy and will be passed on directly to the citizens of Israel. The dramatic increase in natural gas exports to Egypt and Jordan proves how much the natural gas economy is a strategic asset for the State of Israel and helps to increase regional stability These days, the export committee was established which examines the continued increase in the export of natural gas, among other things to Egypt and from there to European countries, or through the establishment of liquefaction facilities."
More on the same topic:
Natural gas
Whale reservoir
Tamar reservoir
Royalties
Ministry of Energy
Eli Cohen