H. Yoo
Research expert covering South Korea
Natural gas in Israel - statistics & facts
In the waters off the coast of Israel, a natural gas boom is reshaping the energy landscape of the region, right on the doorstep of Southern Europe. With offshore reserves estimated at over 1,100 billion cubic meters as of December 2023, Israeli gas is just one piece of a larger basin in the Eastern Mediterranean that includes gas deposits in countries such as Egypt, Cyprus, Lebanon, and the Palestinian Authority. While these reserves pale in comparison to the likes of Qatar, a major global gas supplier, their strategic location near the European Union is key. As Europe grapples with its own energy crisis, the possibility of access to this nearby resource has become increasingly appealing.
