Israel Rebuffs Gas Reserve Hike Amid Looming Shortage
The inter-ministerial committee on natural gas policy in Israel has rejected calls to reserve more natural gas for domestic use and cap exports. The decision comes despite warnings of a potential shortage that could end energy independence and cheap electricity within a decade.
The committee maintained the current volume of 440 billion cubic meters reserved for the domestic market, although cumulative demand is projected to reach 515 BCM in just over two decades.
To address the looming shortage, the committee recommended increasing exploration and discovery of new offshore natural gas reservoirs. Energy Minister Eli Cohen emphasized the importance of maintaining a stable regulatory environment to attract global energy companies to invest in Israel's energy sector.