We’re getting more gas from Israel: The Israeli Energy Ministry has greenlit anagreement that will see Israel increase its gas exports to Egypt from Chevron’s offshore Tamar field starting July 2025, according to Israeli newspaper Calcalist. Under the agreement, Israel will raise gas exports by an additional 4 bn cubic meters (bcm) annually for the next 11 years — triple what is currently exported from the field, according to the Israeli outlet.

The fine print: The increased volumes will depend on output from the Tamar field increasing,the expansion of its export capacity, and Chevron and its partners laying a third pipeline between the wells and production rig.

ICYMI: Partners in the Tamar field on Sunday agreed to invest USD 24 mn to expandproduction by up to 1.6 bn cubic feet a day by 2026, up 60% from current production levels.

We knew this was coming: Then-Israeli Energy Minister Israel Katz said last August that Israelwould increase gas exports to Egypt from Tamar by 3.5 bcm per year over the next 11 years, with the potential for this to increase to 4 bcm per year.

It’s part of a plan to supply gas to the EU as the continent looks to phase out reliance onRussian fossil fuels. To this end, Egypt and Israel signed a landmark gas export agreement in June 2022 to allow Israel to send more gas to Egypt’s LNG facilities for export to Europe.

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