In a meeting held yesterday (Tuesday) by the Knesset’s Committee for Oversight of the Fund for Israeli Citizens, chaired by MK Nissim Vaturi, updated figures were revealed regarding the state’s revenues from natural gas resources.
85 Billion Shekels in Revenue
Yossi Abu, CEO of NewMed Energy, delivered a broad overview and estimated that by 2030, an additional 85 billion shekels will be added to the state treasury. “This is a direct result of the gas revolution,” he said, “and thanks to it, electricity prices in Israel have fallen by 15% over the past decade—while in Europe, they rose by 27%.”
Abu stressed the importance of exports to ensure continued development of gas fields. “We’re investing billions in the reservoirs—without exports, development simply isn’t worthwhile.” He noted that the majority of gas remains in Israel, with exports accounting for only about one-third. He also stated that in terms of reserves, Israel leads among OECD nations, and that if additional fields are discovered, gas may no longer hold commercial value by the late 2030s.
“The Public Pays Too Much – and Will Get Less in the Future”
This position sparked sharp opposition during the discussion. Attorney Linor Deutsch, CEO of Lobby 99, presented a critical view: “The real fight isn’t about whether to extract—it’s about how much the public will receive. Top geologists believe there are no more significant fields to be found, and if exports continue, there will be less left for future generations.”
She added that past revenue forecasts had not been realized, and the public paid the price economically.
Energy Ministry representative Sagie Ganot Shachar clarified: “We have a responsibility not only toward 2050, but also for the years ahead. There needs to be a balance between investment, exports, and energy security.”
Committee Chairman MK Vaturi concluded with a clear call: “We want to see everyday citizens paying less for electricity, and we must also protect our reserves for the generations to come.”
