Promise of Prosperity’: Israel’s Exciting New Natural Gas Discovery

An exciting development took place recently in the waters around Israel, offering yet another promising opportunity for this energetic nation. The Ministry of Energy has officially certified a new natural gas reserve, which is ready and set for development.

The gas reserve, known as Katlan, is entirely within Israeli territorial waters and has been acknowledged by National Infrastructure, Energy, and Water Minister Israel Katz. This green light means that Energean, the British-Greek energy company, can begin formulating plans to tap into this significant energy resource.

With an estimated volume of around 68 billion cubic meters of natural gas, Katlan is set to become Israel’s fourth-largest gas reserve. Energean CEO Mathios Rigas shared his enthusiasm, “Katlan boasts approximately 68 BCM of natural gas, and we are working diligently to develop it as efficiently as possible to create sustainable value for all our stakeholders. We believe this discovery will open new opportunities for Israeli gas supplies in both local and regional markets.”

This certification is a breath of fresh air as the ministry has not certified any offshore gas discoveries since 2015. Energean is not new to this game; they are already involved in the development of Karish, Karish North, Tanin offshore reserves, and several blocks in the larger Tamar gas field.

Excited by the promise of new potential, Energy Minister Katz optimistically said, “There is potential for additional discoveries in the waters of the Mediterranean Sea. The office under my leadership will continue to develop the natural gas reserves that are in our territory and to promote the exploration & discovery of additional natural gas reserves for the sake of the energy security of the State of Israel and for ensuring a reliable, clean, and affordable Israeli energy economy.”

This discovery is more than just an energy windfall; it’s a testament to the spirit of Israel—resourceful, innovative, and always looking toward the future. Just as we’ve successfully made the desert bloom, we’re harnessing the power of the sea, proving yet again that the State of Israel is not just a land of ancient history but also a cradle of modern innovation.

This feat underlines Israel’s drive to provide a sustainable, reliable, and clean energy economy to its people. At the same time, it continues to present Israel as a beacon of development and progress in the region, embodying values of innovation, sustainability, and forward-thinking. The discovery of Katlan is not merely about extracting natural resources; it’s a story of Israel’s indomitable spirit, carving out its destiny, one cubic meter at a time.