Israel announces the launching of its second bid round to grant exploration licenses for natural gas and oil in Israel’s economic waters in the Eastern Mediterranean.
The upcoming bid round is pursuant to an earlier round which began 2 years ago and granted 6 licenses, some are expected to commence drilling in the upcoming months.
Israeli Energy Minister, Dr. Yuval Steinitz: “it is my pleasure to announce the launch of our new bid round for exploration and production of natural gas reservoirs in the East Mediterranean. This bid is intended to continue the development of the natural gas market in Israel, increase competition by the entry of new international energy companies and broaden Israel’s energy security. These efforts correlate with the progress of the subsea pipeline between Israel and Europe, which will allow us to export the gas to Greece, Italy and the rest of Europe.”