Israel's Gas Royalties Experience 12.5% Increase in H1 2024
Israel's gas royalties are on the rise, reporting a notable 12.5% increase in the first half of 2024. The revenues from the Karish reservoir have totaled around NIS 248 million, associated with an impressive production of 2.77 BCM of natural gas and 1.821 million barrels of hydrocarbon liquids. This uptick highlights the sector's expanding role in the national economy.
Overview of the Karish Reservoir Performance
The Karish reservoir has proven to be a lucrative asset for Israel, contributing significantly to the overall royalties collected. In comparison to the previous year, production figures increased by about 70%, showcasing the immense potential of natural gas reserves in the region.
Impact on Israel's Economy
This increase in gas royalties marks a substantial boost for the Israeli economy, providing vital revenue streams that support public services and infrastructure. The ongoing expansion of gas production positions Israel as a competitive player in the energy market.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.