Israel launches tender for five offshore gas exploration blocks
Israel has launched a new competitive process for natural gas exploration in its economic waters, opening five new offshore blocks covering approximately 7,100 square kilometers in the Mediterranean Sea.
The Energy and Infrastructure Ministry said hundreds of billions of cubic meters of natural gas may remain undiscovered in Israel’s exclusive economic zone. Additional discoveries could help secure local supply, increase competition, support state revenues, and lower electricity tariffs.
The process follows the granting of six exploration licenses to a group including SOCAR, BP, and NewMed Energy, as well as ongoing plans to expand production capacity from the Tamar and Leviathan reservoirs.
Alongside the new exploration process, the ministry also announced plans for a major underwater electricity transmission cable linking southern and central Israel. The proposed cable would run approximately 150 kilometers, including approximately 102 kilometers underwater, and would be designed to transmit up to 5.4 gigawatts of electricity.
Read more in The Jerusalem Post.
