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Officials from the Energy Ministry said that Israel would hold an open competition to obtain natural gas exploration licences within its economic waters. This was in response to European demand as part of the region’s efforts to decrease its dependence on Russia.

The decision to hold a new tender is a reversal of the ministry’s declared intent to hold off on granting new licenses this year in favor of concentrating efforts on renewable energy. Officials said that geopolitical and global events have dramatically changed the market’s state, and led to the decision to hold a new tender. 

“The State of Israel is mobilizing to assist Europe in diversifying its energy sources,” Energy Minister Karine Elharrar said at a press conference. “The global energy crisis is an opportunity for the State of Israel to export natural gas, along with the sincere and genuine concern for what is happening in Europe.”

As the European Union continues to negotiate a deal with Egypt to import Israeli natural gas, the new competitive process is set to commence in the third trimester. The fuel would be turned into liquefied natural gas at Egypt’s processing plants before being shipped to the EU. Israel’s gas currently serves the local market as well as neighboring Egypt and Jordan. 

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