Israel’s Energy and Infrastructure Ministry has received more than 11.7 billion shekels (USD 3.8 billion) of natural gas royalties to date, of which more than 1 billion shekels (USD 263 million) were received in the first half of 2023.
The government said the step is being taken in order to strengthen the energy security of the State of Israel and to encourage competition in the natural gas industry.
In what they described as another step being taken on the way to connecting factories and consumers to the natural gas distribution network, Israel’s Natural Gas Authority of the Ministry of Energy and Infrastructure and the Capital Investments Authority of the Ministry of Economy said they
The electric company will be able to carry out operational tests of the production unit of the 70th generation plant, with the aim of reaching its commercial operation in the coming months.
That reflects a savings of more than 120,000 shekels (USD 32,000) for every family in Israel over the past decade, according to the report by economic consulting firm BDO and the Israeli Natural Gas Trade Association
The Israeli Natural Gas Trade Association, together with BDO (an international network of public accounting, tax, consulting and business advisory firms) released what they called an “unprecedented in-depth study” of Israel’s natural gas revolution as it unfolded over the last decade.
The Knesset's Economic Committee approved Monday the extension of the license of the Gas Routes Israel Company for an additional 15 years until the year 2049.