The good news: Israel is planning to launch its second offshore bid round in the last quarter of 2018. The bad news: I don’t have an exact date yet – you will have to sit tight for more updates from me.
My friends, next week we will be celebrating the Jewish New Year. This was an exceptionally special year for our team at the Energy and Economic Mission in Houston, Texas. This year we opened the first office in the history of the State of Israel to represent the Israeli Energy Ministry abroad.
I expect the next year to be even more exciting as by the end of 2018 we will be launching our next bid round: offering blocks for offshore exploration in the Eastern Mediterranean. I hope you will be a part of our journey to discover natural gas and oil in Israel.
As you probably know, there is never a dull moment in Israel. The oil and gas arena in Israel is also hustling and bustling with news:
Israel, Cyprus, Greece and Italy are working together on The East Med Pipeline, intended for export to Europe in order to improve Europe’s energy future:
The Leviathan rig is being built right here, in Texas. 70% of the rig is complete at this point. At the beginning of 2019 the first part of the rig will be shipped to Israel, followed by the topside that will arrive during 2019. Gas will start flowing from the Leviathan reservoir at the end of 2019:
Israel has signed a contract with Egypt to export natural gas at the cost of $15 billion. This in addition to exporting natural gas to Jordan at the cost of $12 billion. The pipeline for the Egyptian deal is moving forward:
Now that Israel has discovered natural gas, we have lowered our coal consumption from 50% to 25% and we are getting ready to close coal plants, lower cost of energy and improve our air quality:
I wish you a happy Jewish New Year, and wish us all much success in the upcoming bid round. Please be on the lookout for more updates from me in the near future.
Energy and Economic Consul
Government of Israel