Netanyahu Highlights Israel's $100 Billion in Offshore Gas Revenue
Translated & summarized from 0404 by baba
Prime Minister Benjamin Netanyahu visited the Leviathan gas platform, announcing that Israel expects to extract NIS 400 billion from offshore gas reserves. To date, NIS 32 billion has been transferred to the state, with future revenues projected to exceed NIS 350 billion. The development of these reserves has lowered electricity prices by over 20% compared to the EU, saving families thousands of shekels annually. Israel continues to seek new reserves and expand infrastructure to meet rising energy demands.
The story in 6 lines · by baba
- Prime Minister Netanyahu stated Israel will extract NIS 400 billion from offshore gas reserves.
- NIS 32 billion has already been transferred to the state from gas and oil revenues.
- Future projected cumulative revenues from gas are estimated at over NIS 350 billion.
- Electricity prices in Israel are over 20% lower than in the EU due to natural gas.
- The gas deal with Egypt is expected to yield NIS 58 billion for the state.
- Israel is expanding energy infrastructure to meet growing demand from AI and server farms.
Prime Minister Benjamin Netanyahu visited the Leviathan gas platform on Thursday, emphasizing the significant economic contribution of Israel's natural gas sector. "We are extracting NIS 400 billion from the sea for the state treasury," Netanyahu declared. According to data from his office, approximately NIS 32 billion has already been transferred to the state from gas and oil revenues, with future projected cumulative revenues exceeding NIS 350 billion.
The Prime Minister's office highlighted that the development of natural gas reserves has made the resource a strategic asset for Israel, contributing to lower electricity production costs. Data presented indicates that electricity prices in Israel are more than 20% lower than in the European Union and Western countries, with natural gas usage saving families thousands of shekels annually.
The gas deal with Egypt, valued at approximately NIS 112 billion, is expected to generate about NIS 58 billion for the state treasury. Concurrently, Israel is actively searching for additional gas reserves and expanding energy infrastructure to meet the growing demand for electricity from server farms and artificial intelligence systems.
During the visit, Netanyahu and Minister of Energy and Infrastructure Eli Cohen received a security briefing from the commander of the Navy's Haifa base regarding efforts to protect the gas platform.