Chevron Keeps Control of Israeli Gas Reservoirs Amid Reserve Requirement Hike
The Dayan Committee report has been published, providing long-awaited recommendations on Israel's natural gas policy. The committee suggests maintaining regulatory stability by not forcing Chevron to sell its stake in Tamar or Leviathan, as previously demanded by the Ministry of Finance and the Competition Authority.
Energy Minister Eli Cohen explained that preserving the existing ownership structure is crucial for attracting new investors, as any upheaval could deter them. According to committee chairman Yossi Dayan, this decision signals to the world that Israel is a regulatorily stable country, making it attractive for investment and encouraging further exploration.
The report also recommends increasing the mandatory reserve requirement to 515 BCM by 2048, up from the current 440 BCM. This estimate assumes sufficient gas will be secured to meet domestic needs through 2048, allowing gas partnerships to continue exporting alongside state initiatives to encourage exploration and expand reserves.