Israel Diesel Threat From CNG

Israeli refiner Paz says products markets will be hit by government’s August 2016 decision to introduce tax breaks for operators of trucks and buses to encourage them to switch to running on compressed natural gas (CNG).

Rising domestic demand from power generators is also increasingly being met with natural gas received from the 800mn cfd Tamar gas field, Israel’s sole producing field in the offshore Mediterranean (see map, p3). The field’s capacity was raised to 1.2bn cfd last year, with operator Noble estimating Israeli demand will reach 1.05bn cfd in 2018. First and second quarter output volumes were the highest Q1 and Q2s since the field’s start up in March 2013. Output should surpass 900mn cfd this year. (CONTINUED - 190 WORDS)