We were aware we were taking a hit, but we didn't want to wait any more to develop the gas fields, we believe that if this roadmap is approved, it will bring regulatory certainty and stability to Israel and we are confident that we will be able to bring to Israel new operators to develop Karish and Tanin.

Yossi Abu

Categorized in : Company News

The reserves are enough to meet domestic demand and exporting contracts with neighboring countries as we plan, according to the approved development plan.

We are focusing on finding a solution in order to maintain the ti... by Yossi Abu

We are focusing on finding a solution in order to maintain the timetable that we put forward.

What it means basically is that we hope that the decision will not impact our ability to close agreements in the market.

The Egyptian market is thirsty for gas, both for domestic use and for their export facilities. There is a lot of room for cooperation there.

Egypt is becoming a regional hub through cooperation with the Leviathan and Tamar partners, and together with Israel and Cyprus.

Every day that passes Israel is losing revenue and investments and is not enjoying the geopolitical benefits of the discoveries, once this outline is approved, it will allow us to invest close to $10 billion to expand Tamar and develop Leviathan.

There was no other choice but to agree to this roadmap, we were aware we were taking a hit, but we didn't want to wait any more to develop the gas fields.

There exists significant potential for further oil and gas discoveries... and we should not miss this historic opportunity, israel can produce a real market and not an artificial one, not a gas market run by the regulators.