East Mediterranean

Israel

Israel is ready to cast off its label as regional pariah following the historic Abraham Accords. Normalization of diplomatic relations with the UAE provides the platform to expand regional energy cooperation.

State of Play

Record gas output and exports in 2020, following the late-2019 start up of the giant Leviathan field has solidified Israel's position as a regional gas player. Barring more global supply and demand shocks the country's gas output should rise further in 2021 ahead of the start-up of its third gas field Karish in 2022.

2020 In Numbers
Gas Output 15.5 bcm
Gas Exports 4.26 bcm
Crude Imports 254 000 b/d
Refining Capacity 297 000 b/d
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SELECTED DATA

Leviathan Field Stakes (%)

Tamar Field Stakes (%)

Israel Gas Output Fell 23% To 1.09bn CFD, Just 56% Of Capacity In Q2. Key Firm Delek Forecasts A 2h Rebound. Is This Realistic?

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