120K shekels per family over ten years, this is the amount saved by the citizens of Israel thanks to natural gas. This is according to an in-depth study by BDO and the Natural Gas Association, on the tenth anniversary of the revolution he brought with him to the economy
On the tenth anniversary of the natural gas revolution: an unprecedented in-depth study by BDO and the Natural Gas Association, from which some amazing facts emerge:
• Cumulative savings for the economy over the past decade: over NIS 316 billion
• Meaning: every household in Israel saved over NIS 120,000 in the past decade
• A 40% increase in the extent of the national gas reserves
• Israel tops the OECD in saving gas for the future, and ranks third in the OECD in reserves per capita
• NIS 20 billion was paid directly to the state treasury. By 2030 the amount will jump to 90 billion
• Thanks to natural gas: the price of electricity in Israel is about half the price in Europe
• A dramatic decrease in the intensity of emissions of pollutants and greenhouse gases
Revenue forecast
In the last decade, more than NIS 19 billion were paid directly to the state coffers - 14 times compared to the previous decade. By 2030, another NIS 70 billion will enter the state coffers from the natural gas funds (so, considering the amounts already paid, the amount that will enter the state coffers will reach about NIS 90 billion) and by 2050, the amount is expected to jump to over NIS 300 billion, which will be paid directly to the state coffers.
Israel - a natural gas powerhouse
The report states that Israel is the OECD leader in saving gas for the future: the local production rate (reserves / annual production) is only about half of the production rate among the largest producers in the OECD.
It also shows that Israel is in third place among the OECD countries - in natural gas reserves per capita - with an amount 2 times greater than Canada and almost 3 times greater than the USA.
In 2022, the export of natural gas to Egypt represented about 98% of the volume of Israeli exports to Egypt, and the export of natural gas to Jordan represented about 92% of the total export.
According to a report by the Ministry of Energy from 2015, the potential for discovering additional natural gas in Israel's economic waters is about 2,100 BCM - twice the volume of gas than the current reserves.
Source: Walla News