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31 May, 2022 09:04

Israel aims to fill Europe’s energy void

The country will begin gas exploration, scrapping a year-long freeze on new drillings
Israel aims to fill Europe’s energy void

Israel will begin the process of launching a fourth exploration for natural gas in its territorial waters, Energy Minister Karin Elharrar said on Monday, according to The Jerusalem Post. The decision has reportedly come in response to a growing energy crisis in Europe as the continent attempts to cut its dependence on Russia.

The decision also comes despite earlier plans to halt all searches for natural gas in Israel during 2022, in order to focus on renewable energies. Those plans were announced by Elharrar in December.

“The State of Israel is pitching in and helping Europe diversify its energy sources,” the minister said at a press conference, as quoted by the Post. “The global energy crisis provides an opportunity for the State of Israel to export natural gas, along with the honest and real concern for what is going on in Europe.”

Elharrar explained that the ministry aims “to ensure Israel's energy security, the diversity of our energy sources and investment in renewable energies, and the Israeli economy’s gas reserves for the coming decades.”

For more stories on economy & finance visit RT's business section



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