Royalties paid on Israeli natural gas output rose 13% to a record $564mn for 2023 as lower payments from the mature Leviathan and Tamar fields, both operated by Chevron, were more than made up for by the ramp up in output and payments from the Karish field following its late 2022 start up (see chart 1).
Israel 2023 Gas Royalties Record On Karish Ramp-Up
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Charts
1: Israel Natural Gas Royalties Rose 13% To A Record $564mn For 2023....
2: ...In Line With The 13% Rise In Gas Output To A Record 2.4bn cfd As A 16-Fold Leap At Karish More Than Made Up For Falls At Tamar And Leviathan (mn cfd)
3: Output By Destination (mn cfd): A 38% Surge In Sales To Egypt Accounted For Over 80% Of Israel’s 280mn cfd 2013 Output Increase
4: Leviathan Sales By Destination (mn cfd): Egypt Volumes Saw A 28% Leap To Account For A Record 56% Of The Total For 2023
5: For Tamar, Domestic Sales Remained Dominant For 2023 But Those To Egypt Near Doubled To A Record 226mn cfd
6: Output Fell 400mn cfd For Q4 As Leviathan And Karish Failed To Make Up For A 1-Month Tamar Outage (mn cfd)
7: Tamar Quarterly Sales (mn cfd): Domestic Customers Bore The Brunt Of Q4’s Month-Long Outage
8: Leviathan Quarterly Sales (mn cfd): Tamar And EMG Outage Saw Volumes Shift From Egypt To Domestic Market For Q4
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