Israel gears up for fourth natural gas exploration offshore bid round

The country plans to export larger quantities of natural gas amidst the crisis.

Israel is gearing up for the fourth offshore bid round for natural gas exploration licenses as it plans to export larger quantities of gas amidst the supply chain disruption, stemming from the Russia-Ukraine conflict.

“The State of Israel is gearing up to help Europe diversify its sources of energy. The global energy crisis is an opportunity for the State of Israel to export larger quantities of natural gas, alongside the genuine and sincere concern about the events taking place in Europe,” Minister of Energy Karine Elharrar said.

Elharrar had asked the Ministry’s personnel to prepare the launch for the exploration within Israel’s exclusive economic zone (EEZ).

The State of Israel is planning to help Europe diversify its sources of energy amidst the global energy crisis. 

“According to my policy, in the past year the Ministry of Energy focused on promoting renewable energies and removing bureaucratic and regulatory barriers, with the aim of facilitating the connection of renewable energies and establishing a solid basis for the continued massive promotion of renewable energy utilization,” Elharrar said.

“The Ministry of Energy, under my leadership, is working to guarantee the energy security of Israel, diversification of our sources of energy and investment in renewable energies and the gas reserves for the Israeli economy over the coming decades.”