Israel has granted approval for an expansion in the export of natural gas to Egypt.

 

Israel is set to amplify its natural gas exports to Egypt, originating from the offshore Tamar field, as confirmed by Energy Minister Israel Katz. This development arises amid resurgent enthusiasm for offshore exploration and ongoing deliberations on whether the gas should be primarily reserved for domestic consumption.

Minister Katz stated on Wednesday, in a post on the social media platform previously known as Twitter, now referred to as "X," that this move would augment the nation's revenue and reinforce the diplomatic relations between Israel and Egypt. However, he refrained from furnishing additional particulars.

Egypt, grappling with a surging demand for gas due to its population of 105 million, experienced a 9 percent year-on-year decline in gas production between January and May, further exacerbated by a 12 percent drop compared to the same period in 2021. The nation has encountered challenges stemming from power shortages, amplified by elevated cooling demand caused by heatwaves.

Katz emphasized that his authorization for increased exports came after ensuring that Israel's internal gas supplies were secure.

Remarkable gas reserves have been unearthed off Israel's Mediterranean coast over the past 15 years. To ensure the future sufficiency of the local market, the government has imposed limits on the quantity available for overseas sale.

This issue has been a subject of heated discourse for years, and it gained renewed attention recently after Israel's budget director cautioned that excessive exports could jeopardize energy security.

Israeli public advocacy groups have cautioned against potential gas shortages as domestic demand escalates, and they've raised concerns about environmental ramifications linked to intensified offshore activities.

In 2022, energy firms in Israel generated 21.29 billion cubic meters (bcm; 751.85 billion cubic feet) of natural gas, with only 9.21 bcm (325.25 billion cubic feet) earmarked for export. These exports were directed to Egypt and Jordan.

Egypt has been striving to establish itself as a regional supplier, selling its own gas and re-exporting Israeli gas as liquefied natural gas to the Middle East, Africa, and Europe.