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Israel may relax natural gas exports

 Last Update: 2021-06-10
 Source: Internet
 Author: User

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Sinochem News reported on June 1, the financial website Calcalist announced that Israel’s ministerial committee responsible for formulating natural gas policies recommended that Israel should increase its fuel exports to neighboring countries in view of the decline in Israel’s domestic natural gas consumption.

According to Calcalist, Israeli natural gas field owners are allowed to export 40% of total annual fuel production, which is about 830 billion cubic meters.

In February, the Egyptian Minister of Petroleum and Mineral Resources Tarek el-Molla visited Israel.

It is reported that the Israeli government has set a goal-by 2030, 30% of Israel's electricity production will come from renewable energy sources, which will reduce local natural gas consumption.

The committee is composed of members of the Ministry of Energy, the Ministry of Finance, the Ministry of Justice, the Ministry of Foreign Affairs, the Ministry of Environment, the Antitrust Regulatory Agency, the National Economic Council and the Israel National Security Council.

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