Natural gas in Israel

Energean informed the London and Tel Aviv stock exchanges on Thursday about its sixth natural gas field discovery in the Eastern Mediterranean, in Egypt.

The initial estimate is that the new discovery contains 87-129 billion cubic feet of natural gas and is scheduled to come into production during the third quarter of the year.

Energean on Thursday announced that the government of Israel had approved the first phase of a development plan for the Katlan gas field.

Energean said this field could be used for exports to neighboring countries if the Israeli government approved such licenses.

Petroleum Pipeline Corporation (BOTAŞ) has announced that natural gas prices for households and industrial users have been kept unchanged for December.

There will be no change in the price of natural gas used in electricity generation as well, the company added.

With US-based ExxonMobil entering the final stage of exploration in Crete, Athens' expectations have been boosted by the statement by Environment and Energy Minister Kostas Skrekas that there are indications of a significant deposit that could fill the Russian gas gap in Europe for 10 years.

Turkey's natural gas imports increased by 47.8 percent in March this year compared to the same month of 2020, according to the Turkish energy watchdog's data on May 28.

Turkey ranked as the seventh biggest gas-consuming country in the world with 47.7 billion cubic meters (bcm) of consumption last year, according to data of the Natural Gas Distribution Companies Association of Turkey (GAZBİR) on May 25.

Turkey's energy watchdog estimates the consumption of 52.02 billion standard cubic meters (bcm) of natural gas in Turkey in 2020, according to an official gazette announcement on Jan. 29.

EMRA's natural gas consumption estimation was nearly 52.13 bcm for 2019 but the authority has not yet announced the actual consumption.

Israel began exporting natural gas to Egypt on Wednesday under one of the most important deals to have been signed by the neighbors since they made peace decades ago.
A private firm in Egypt, Dolphinus Holdings, will purchase 85 billion cubic meters (bcm) of gas, worth an estimated $19.5 billion, from Israel's Leviathan and Tamar offshore fields over 15 years.

Natural gas inflow to Turkey's gas network saw a year-on-year decrease of around 6.33 percent to 46.83 billion cubic meters (bcm) in 2019, according to data from the Turkish Petroleum Pipeline Corporation (BOTAŞ) on Jan. 4.

In 2018, around 50 bcm of natural gas entered the Turkish natural gas system, the majority of which, at around 49.33 bcm, was consumed.