Israel has approved an increase in the country’s natural gas exports to Egypt, Energy Minister Israel Katz announced Wednesday.
“This step will increase the state’s revenues and strengthen the diplomatic relationship between Israel and Egypt,” Katz said in making the announcement.
A consortium of international companies operates and own the rights to Tamar, including:
• Isramco, 28.75 percent;
• US-based Chevron, 25 percent;
• Abu Dhabi’s Mubadala Energy, 22 percent;
• Tamar Petroleum, 16.75 percent;
• Dor Gas with 4 percent; and
• Everest with 3.5 percent.
Approximately 3.5 billion cubic meters (bcm) will be added to Israel’s current natural gas exports to Egypt over the next 11 years.
The exports will come from the Tamar natural gas field in Israel’s exclusive economic zone off the coast of Haifa, about 1,700 meters beneath the waters of the Mediterranean Sea.
The decision to authorize the increase was made upon the recommendation of Petroleum Commissioner Chen Bar Yosef, Katz said.
He added that approval was given only after ensuring there is enough of the precious resource to supply Israel’s energy needs. About one-third of the additional natural gas produced from Tamar will be allocated to the domestic market.
Israel has been exporting natural gas to Jordan from Tamar since January 2017; exports to Egypt from Israel’s largest natural gas reservoir, Leviathan, began in January 2020. By 2026, the Tamar field is expected to increase its production by 60 percent (6 bcm) annually.
