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: 22.04.2025 Expectation: 800 pips
USDCAD to rise from new support at 1.38200
Yesterday at 11:39 AM 30
Period: 26.04.2025 Expectation: 3909 pips
GBPUSD technical correction opens up selling opportunities with 1.288 target
Yesterday at 11:13 AM 25
Elizabeth_Kuzmicheva
Elizabeth_Kuzmicheva

Listed among the best MarketCheese authors
1st in the segment "Metals"
Period: 24.04.2025 Expectation: 150 pips
Brent crude poised to rebound to $69
Yesterday at 10:55 AM 25
Period: 22.04.2025 Expectation: 1495 pips
AUDCAD set to enter fifth wave of growth
Yesterday at 08:29 AM 33
Period: 23.04.2025 Expectation: 2500 pips
Rebound to 145 could interrupt USDJPY decline
17 April 2025 66
AntonVolkov
AntonVolkov

Listed among the best MarketCheese authors
1st in the segment "Currencies"
Period: 21.04.2025 Expectation: 600 pips
AUDUSD rebounds from 0.64000 resistance level
17 April 2025 38
Go to forecasts