Operational Resilience and Supply Continuity:
Dayan noted that the Israeli energy sector has demonstrated high resilience recently, maintaining full continuity in electricity and energy supply. “Even during complex events that included damage to infrastructure, the sector operated commendably without the need to open emergency reserves.” The CEO explained that the system relied on mutual backup between various energy sources – natural gas, coal, and renewable energies – in a way that ensured no consumer would experience a shortage.
Export Permit as Good News for the Israeli Consumer:
A central component of his speech was dedicated to the importance of the new export permit to Egypt, which includes the supply of 131 BCM of natural gas. Dayan emphasized that the move was planned primarily to benefit the local consumer.
Price Protection for the Consumer:
For the first time, the Ministry has mandated companies to adhere to ceiling prices similar to those in long-term agreements, a step that ensures price stability and competitiveness in the domestic market.
Subsidization of the Local Price:
The price of natural gas directed for export is significantly higher than the price in Israel, which allows for the subsidization of energy costs within the country and keeps them low.
Infrastructure Development Without Public Cost Burden:
The export enables the financing of the expansion of the “Leviathan” field at a cost of approximately $4.5 billion. Without these revenues, the economic burden of infrastructure development would have fallen on the shoulders of the Israeli consumer.
Massive Revenues for the State:
From this agreement alone, state revenues are expected to reach approximately 58 billion shekels, which will be directed for the benefit of the public.
Absolute Priority for the Israeli Economy:
The export permit enshrines absolute priority for the domestic economy on a daily basis, ensuring that citizens’ needs are met before any external commitments.
In conclusion, the CEO noted that the Ministry is working to reduce regulation and bureaucracy to encourage further investments, understanding that the development of the natural gas sector is key to energy security and economic prosperity for every household in Israel.
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