NewMed Energy CEO Yossi Abu intends to participate in Global Investment Forum 2022 on Thursday in Morocco. The conference is organized by the Jerusalem Post Group, together with its media partners, Global Media Holdings from Morocco and the Khaleej Times from the United Arab Emirates.
NewMed Energy is the largest, oldest and most experienced energy group in Israel, and it brought natural gas to Israel at the beginning of the millennium. NewMed is engaged in the exploration, development, production and sale of natural gas and condensate.
The partnership holds 45% of the Leviathan reservoir, the largest gas reservoir in the Mediterranean Sea, and 30% of the Aphrodite gas field in Cyprus.
Over the past 25 years, NewMed Energy has established a worldwide reputation by being at the center of discoveries of all of the natural-gas fields in Israel, including Tamar in 2009, Leviathan in 2010, Tanin in 2011 and Karish in 2013, recording exceptional rates of success. In addition, it was a key partner in the development and production of natural gas from the Yam Thetis, Tamar and Leviathan projects.
NewMed Energy exports significant amounts of natural gas from the Leviathan reservoir to customers in Jordan and Egypt, in parallel with its marketing to customers in Israel. At an investor conference earlier this year, the partnership announced its intention to enter natural-gas exploration and production activities in Morocco.
NewMed Energy is also promoting entry into renewable energies and blue hydrogen. The company recently signed a memorandum of understanding with Enlight Energy to invest in renewable-energy projects in the regional market. It intends to promote a joint venture for the development and establishment of renewable-energy projects in a number of countries, including Morocco.
During Global Investment Forum 2022 in Morocco, Abu is scheduled to participate in a panel on sustainable options for dealing with the energy crisis.
“In recent years, we have led NewMed Energy to unprecedented agreements for the export of Israeli gas to countries in the region,” Abu said. “We believe in cross-country cooperation that helps create not only energy but also strengthens relations between countries. The energy sector in general, and renewable energy in particular, is fertile ground for extensive cooperation.”
Translated by Alan Rosenbaum.