Photo Credit: Flash90
Israeli fisherman looking at the Leviathan natural gas rig off the Dor Habonim Beach Nature Reserve, January 1, 2020.
Binyamin Zomer, Vice President for Regional Affairs at the American multinational energy corporation Chevron, last week said the company estimates that the coming decade will see a 50% increase in global natural gas consumption, from 60,000 BCM to 90,000.
Chevron recently completed its acquisition of Noble Energy, which operates two gas fields off Israel’s coast. One of Chevronâs first moves last October, upon completing the purchase of Noble, was to turn off the flow of gas to the Israel Electric Company (IEC) and demand much higher prices (After Acquiring Noble Energy, Chevron Shuts Off the Gas to Israel, Demands Higher Prices).
Israel
By Yoni Weiss
Updated Wednesday, January 6, 2021 at 4:36 pm
YERUSHALAYIM -
Updated Wednesday, January 6, 2021 at 4:36 pm
(AP Photo/Alan Diaz)
The Special Committee for the Israeli Citizens’ Fund chaired by MK Avi Dicter (Likud) discussed on Wednesday the potential of the natural gas market in Israel, and the potential for exporting natural gas.
The Israeli Citizens’ Fund is designed to accumulate revenues paid to the state treasury from the super-profits tax levied on gas reservoirs since 2011, as recommended in the Sheshinski I Committee report, and from revenues paid to the state treasury from the super-profits tax levied on producers of natural resources since 2015, as recommended in the Sheshinski II Committee report.