Israel’s gas consumption rose to an annual record 1.085bn cfd for 2020, despite electricity consumption dipping slightly. Higher Israeli gas production enabled both state utility IEC and independent producers to utilize more natural gas, with consumption rising to 531mn cfd and 554mn cfd respectively (see chart 1). Consumption will likely have trended up further for Q1 of this year as gas output rose to a record quarterly high of 1.83bn cfd.
Israel’s IPPs are mainly gas-fired, while the IEC also has older baseload coal units still in operation. 1.2GW of new combined cycle gas turbine (CCGT) units are due online by 2024, enabling the phasing out of the coal-fired 2.59GW Orot Rabin plant at Hadera. The plant will then be decommissioned in 2026. (CONTINUED - 1246 WORDS)