The year 2024 marked a record high for Israel’s revenue from natural resource royalties, with total collections amounting to approximately 2.37 billion shekels—an increase of about 8.2% compared to the previous year.
These impressive revenues come primarily from natural gas, oil, and minerals, with natural gas royalties alone totaling approximately 2.31 billion shekels—a significant 10.88% increase from 2023.
The Success Stories Behind the Numbers
The report reveals that the majority of revenues came from the Leviathan gas field, which produced approximately 11.33 BCM (billion cubic meters) of natural gas, generating around 1.02 billion shekels in revenue. Of this, approximately 87.5% came from exports to Egypt and Jordan. The Tamar field also contributed significantly, with revenues reaching approximately 779 million shekels—an increase of about 12% compared to the previous year, thanks to an 8.3% rise in total production.
The Karish gas field continues to expand, generating approximately 507 million shekels—an impressive 29.8% increase compared to 2023. Notably, about 67.7% of the revenue came from natural gas production for the domestic market, with the remainder from oil production for export.
More Than Just Gas and Oil: Royalties from Minerals and Mines
Beyond gas and oil, the minerals sector also contributed to state revenues, with approximately 41.2 million shekels collected in royalties from phosphate mining, gemstones, and other licensing fees. Last year also saw the introduction of a new licensing process for natural phosphorite mining, generating approximately 16 million shekels in signing fees.
“Natural Resource Royalties Are a Boost to the Economy”
Energy and Infrastructure Minister Eli Cohen welcomed the encouraging figures, stating: “The continued rise in state revenue from natural resource royalties, now exceeding 2.37 billion shekels annually, is great news for the Israeli economy and will have a direct impact on Israeli citizens. My policy is clear: to maximize Israel’s natural gas reserves, strengthen exports, and increase competition in the domestic market.”
Future Goals and How This Will Impact Everyday Life
According to projections, Israel’s revenue from natural gas alone is expected to double in the coming years, reaching approximately 10 billion shekels annually. The significant increase in natural gas exports to Egypt and Jordan highlights the strategic importance of Israel’s gas sector, which contributes to regional stability, strengthens Israel’s international standing, and reinforces its economic security.
