Israel Considers Relocating Haifa Refinery South to Boost Energy Security
Israel's Ministry of Energy and Infrastructure has proposed relocating the BAZN oil refinery from Haifa to southern Israel as part of a strategic plan to bolster the nation's energy security through 2040. The proposal, detailed in a study supported by BDO, recommends establishing a hybrid enterprise in the south.
Minister of Energy and Infrastructure Eli Cohen stated that the energy sector performed reliably during recent conflicts, with no resource shortages despite attacks on strategic sites. He emphasized that the ministry is developing a plan based on lessons learned to ensure Israel's energy security for decades to come. This new strategy addresses the entire fuel supply chain, from import and ports to storage, transportation, and domestic refining.
The relocation is estimated to cost between $5 billion and $6 billion. However, projected state revenues from carbon emission taxes could reach approximately $9 billion, potentially providing a funding source for the project. The plan aims to ensure supply chain resilience at all stages, a necessity highlighted by recent security challenges.
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