Netanyahu to Visit Leviathan Gas Platform Amid Election Campaign

Prime Minister Benjamin Netanyahu is scheduled to visit the Leviathan gas platform on Tuesday, as part of his election campaign for the October 27th Knesset elections. This marks his first visit to the platform since its inauguration in 2019, an event he attended with then-Minister of Energy Yuval Steinitz. The visit, which has not yet been publicly announced, is expected to involve significant security measures.

The Leviathan field, discovered in December 2010 by a consortium including Noble Energy and Delek Group, is Israel's largest gas reserve, with most of its output slated for export. Currently, NewMed Energy (controlled by Yitzhak Tshuva's Delek Group) holds approximately 45% of the field, U.S. operator Chevron (which acquired Noble Energy) holds 40%, and Ratio holds 15%.

Netanyahu and Steinitz spearheaded the development of the gas fields and the competitive arrangement through the "Gas Outline" approximately 15 years ago. This plan, which faced widespread public protest known as the "Gas Robbery" protests, ultimately enabled the fields' development, significantly increased tax revenues, and kept electricity prices in Israel relatively low compared to global rates. While Netanyahu initially estimated state revenues in the "hundreds of millions," current projections align with these figures.

However, since the initial discovery, no other major gas fields have been found in Israel, and exploration efforts have slowed in recent years. Netanyahu has recently focused on economic issues in his election campaign, criticizing Yaron Zelicha for opposing the gas reform that he claims brought billions to Israeli citizens through lower electricity prices, as well as other reforms like the cellular market.

The Likud party has been losing support in recent polls, and this visit to the Leviathan platform appears to be an effort to highlight his achievements in the energy sector.