18 March | Gas

Israel issues natural gas exploration licences to major global companies

Israel issues natural gas exploration licences to major global companies

On Monday, Israel issued licenses to BP, Socar and NewMed Energy to explore for natural gas in the country's waters. Israel strives to increase domestic gas reserves and boost exports, Reuters reports.

Azerbaijan's Socar will act as the consortium operator while exploring a 1,700 square kilometer area in the northern part of Israel's territorial waters. It is located near the Leviathan field. During the first phase of exploration, the companies will conduct seismic and geological surveys and then start drilling, the agency says.

Eli Cohen, Israel's Minister of Energy and Infrastructure, emphasized the strategic importance of natural gas in strengthening the country's economic and diplomatic standing worldwide.

Israel is also positioning itself as a regional energy hub. The country has committed to supply natural gas to Europe, which is seeking an alternative to Russian energy, according to Reuters.

Period: 16.06.2025 Expectation: 7300 pips
Buying Tesla shares with target at 400 amid upcoming robotaxi launch
Today at 11:34 AM 26
Period: 06.06.2025 Expectation: 500 pips
AUDUSD failed to overcome resistance level of 0.65 again
Today at 10:12 AM 23
Period: 06.06.2025 Expectation: 90000 pips
Bitcoin weakens as appeal of safe havens increases
Today at 08:36 AM 24
Gold sell
Period: 09.06.2025 Expectation: 11200 pips
Gold could decline to 3,200 as market adapts to trade risks and correction
Yesterday at 11:22 AM 115
Elizabeth_Kuzmicheva
Elizabeth_Kuzmicheva

Listed among the best MarketCheese authors
1st in the segments "Metals" and "Oil and gas"
Period: 06.06.2025 Expectation: 300 pips
Silver to retest upper boundary of sideways trend at 33.7
Yesterday at 10:01 AM 52
Brent sell
Period: 27.06.2025 Expectation: 120 pips
Selling Brent until its price reaches $63 per barrel
Yesterday at 08:58 AM 42
Go to forecasts