East Mediterranean
Israel
Israel is ready to cast off its label as regional pariah following the historic Abraham Accords. Normalization of diplomatic relations with the UAE provides the platform to expand regional energy cooperation.
State of Play
Record gas output and exports have propelled Israel as a key player in the East Mediterranean basin. Expansion plans for the Chevron-operated Tamar and Leviathan fields are set to boost output and exports further by the end of 2025 . Key IOC and NOC entrants should further enhance the country's status as a pivotal regional hub.
2024 In Numbers
| Gas Output | 26.95 | bcm |
| Gas Exports | 13.1 | bcm |
| Crude Imports | 200 | 000 b/d |
| Refining Capacity | 297 | 000 b/d |
| Renewables Capacity | 6.7 | GW |
21 Mar, 2025
Featured
Socar Eyes Yet More Israeli Upstream Acreage
Azerbaijan’s state energy firm Socar sent its most senior executives to Israel for the signing of new exploration acreage this week. Socar is already eying more Israeli acreage, while Tel Aviv is bullish that the firm will discover oil offshore.
Israel’s New Offshore Gas Awards
NEWS IN BRIEF
Carlyle-Energean Deal Terminated
21 Mar, 2025
Israel’s NewMed Expands Into Bulgaria
29 Nov, 2024
Israel’s Karish: Oil Train Installation Begins
1 Nov, 2024
Israel Adds Solar/Storage
18 Oct, 2024
Houthis Strike Tel Aviv
19 Jul, 2024
Israel Renewables: Progress Slows
12 Jul, 2024
Israel & Hezbollah Step Up Attacks As War Looms
5 Jul, 2024
SELECTED DATA
Israel Gas Sales Prices ($/mn btu): Leviathan Earns More For Both Domestic And Exports Sales
Israel’s Refinied Products Output Fell 8% To A Three-Year Low 261,700 b/d For 1h 2024 (‘000 b/d)
Bazan Refinery Output Falls To Eight-Year Low 154,300 B/D For Q2 With Maintenance Shutdown At Largest CDU (‘000 b/d)
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