Israel is positioning itself as a regional energy hub and has committed to supply natural gas to Europe, which has been diversifying away from Russia since its invasion of Ukraine.
From 2008 until the political turmoil in Egypt following the Arab Spring of 2011, the pipeline supplied about half of Israel’s natural gas needs.
Environmental experts say Israel “out of sync” with global aims to reduce greenhouse gas emissions in the face of global boiling.
A total of nine companies, five of which were new to the Israeli market, placed bids on Israeli offshore hydrocarbon exploration.
With its substantial savings, increased reserves, and environmental contributions, Israel's natural gas revolution has significantly impacted the economy, paving the way for a promising future.
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