Israel’s natural gas revenue reaches 305 mln USD in H1: report

JERUSALEM, Sept. 15 (Xinhua) — Israel’s natural gas royalty revenues totaled 1.13 billion shekels (about 305 million U.S. dollars) in the first half of 2024, according to a report issued by the country’s Ministry of Energy and Infrastructure on Sunday.
The report noted a 12.5 percent year-on-year increase from the approximately 1.01 billion shekels in revenue from January to June 2023.
The increase was attributed to increased production of natural gas for export, higher production of hydrocarbon liquids, and fluctuations in currency exchange rates, according to the statement.
Israel’s natural gas revenues stemmed from gas produced at the Tamar, Leviathan, and Karish fields in the Mediterranean Sea off Israel’s northern coast.
According to the report, total production from these fields reached 13.14 billion cubic meters (BCM) in the first half, a 6.7 percent increase from 12.32 BCM in the same period last year, marking the highest half-year volume ever.
Of the total natural gas produced, 6.7 BCM were used domestically, while 6.44 BCM were exported to neighboring countries Egypt and Jordan. ■