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
Gas Rig Count	0	-

Corporate

3 Sep, 2021

Featured

Mubadala Completes Israel Entry With Tamar Buy-In

Abu Dhabi state firm Mubadala on 2 September signed a definitive agreement to purchase Israeli firm Delek Drilling’s 22% stake in the 10.5tcf Tamar field. The deal is the most significant to date to follow last year’s landmark Abraham Accords.