The Minister of Energy, Karin Elharar, announced today (Monday) that she has instructed the professionals in the Ministry of Energy to prepare for the fourth competitive procedure for natural gas exploration in the territorial waters of the State of Israel.
It will be recalled that upon taking office, the Minister of Energy announced a temporary freeze on the distribution of gas exploration licenses in Israel's territorial waters due to the intention to focus on the development of renewable energies.
However, the gas crisis in Europe that intensified as a result of the war between Russia and Ukraine preyed on the cards.
Elharar repeats it at the press conference: "I ordered the launch of the competitive procedure for natural gas exploration," Photo: Oren Ben Hakon
Elharar said that if the exploration is successful, it will be possible to increase gas exports from Israel to Europe.
Elharar emphasized that the needs of the Israeli economy will be given priority "even in view of the reserves required for years to come."
The remarks were made at a press conference held at the Ministry of Energy in Jerusalem.
It was also stated that following the agreement between the Minister of Energy and the Energy Commissioner of the European Union, an Israeli-Egyptian-European working team was established.
The ministry is working on creating a tripartite framework agreement between the EU, Egypt and Israel, which will allow natural gas companies to subsequently sign commercial agreements between them and transfer larger quantities of natural gas to Egypt and from there, after the leak, to Europe.
As first published in "Israel Today", the framework agreement in question is expected to be signed as early as the summer in light of Europe's demand for Israeli gas, which has recently increased due to the war in Ukraine.
"Along with the sincere and genuine concern about what is happening in Europe, the global energy crisis is a huge opportunity for the State of Israel to export natural gas. "The fourth competitive for natural gas exploration in the economic waters of the State of Israel," said the Minister.
Elharar: "Global energy crisis - a huge opportunity for Israel to export natural gas", Photo: Oren Ben Hakon
"The Russia-Ukraine war has in recent months illustrated the risks and prospects of availability and energy prices, in the period of transition from fossil fuel use to green energy," she continued.
"On the one hand, Europe's problematic dependence on oil and gas supplies from Russia. On the other hand, the inability of the continent to meet the needs of energy economies by relying exclusively on renewable energies. And to export natural gas to Europe as well. "
It will be recalled that upon taking office, the Minister of Energy announced a temporary freeze on the distribution of gas exploration licenses in Israel's territorial waters due to the intention to focus on the development of renewable energies.
However, the gas crisis in Europe that intensified as a result of the war between Russia and Ukraine preyed on the cards.
"Black swan" in the global energy economy
The director general of the Ministry of Energy, Lior Shilat, explained that "the geopolitical events in the world, and the global energy crisis caused as a result, have completely changed the state of the energy market.
Many of the conventions that were clear by the end of February 2022 have completely changed, forcing us to assess a new situation.
If you will - this is what Nassim Taleb would call a "black swan" in the global energy economy: a phenomenon that was not foreseen and significantly changed the rules of the game.
Director General of the Ministry of Energy, Lior Shilat: "The global need for natural gas in both the immediate and medium term can not be ignored" // Photo: Oren Ben Hakon,
Shilat further stressed that Israel and the EU agree that the most important strategic move to overcome the crisis is in accelerating the development of renewable energies, but the global need for natural gas in both the immediate and medium term cannot be ignored.
"Only yesterday we presented our action plan to reach 20% renewable in 2025 and 30% renewable in 2030. We believe that if the government mobilizes on the issue and adopts the policy measures we recommend, it will be possible to meet the target and even beyond. However, it can not be ignored. "From the global need for natural gas in both the immediate and medium term," he said.
The importance of natural gas in strengthening ties between Israel and Egypt
Shilat also referred to Israeli gas exports and said that "it is difficult to overstate the importance of natural gas exports in strengthening ties between Israel and Egypt and its impact on Israel's geopolitical status in the Middle East. Natural gas agreements have strengthened trade ties between Israel and Egypt. The economic ties between the countries, with emphasis on natural gas exports, renewable energies and water, we believe that the continued export of natural gas will continue and contribute to strengthening these relations.
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