{"id":17474,"date":"2025-03-18T16:28:59","date_gmt":"2025-03-18T14:28:59","guid":{"rendered":"https:\/\/reganews.co.il\/en\/?p=17474"},"modified":"2025-03-18T16:28:59","modified_gmt":"2025-03-18T14:28:59","slug":"momentum-in-israels-gas-sector-as-bp-and-socar-join-exploration-efforts","status":"publish","type":"post","link":"https:\/\/reganews.co.il\/en\/momentum-in-israels-gas-sector-as-bp-and-socar-join-exploration-efforts\/","title":{"rendered":"Momentum in Israel\u2019s Gas Sector as BP and SOCAR Join Exploration Efforts"},"content":{"rendered":"

Israel\u2019s Minister of Energy and Infrastructure, Eli Cohen, together with the Petroleum Commissioner, Chen Bar-Yosef, awarded six new natural gas exploration licenses today as part of Israel\u2019s fourth competitive licensing round.<\/p>\n

The licenses were granted to a consortium that includes SOCAR, Azerbaijan\u2019s national oil and gas company; BP, one of the world’s largest energy giants; and NewMed Energy from Israel.<\/p>\n

\"\"
Minister of Energy and Infrastructure, Eli Cohen, Awarding the Licenses | Photo: Shlomi Amsalem, GPO<\/figcaption><\/figure>\n

The event was attended by SOCAR Chairman and Azerbaijan\u2019s Minister of Economy, Mikayil Jabbarov, marking a historic entry for SOCAR into offshore gas exploration outside Azerbaijan. This move underscores the strategic importance of Israel\u2019s energy sector.<\/p>\n

Expanding Gas Reserves and Opening the Market to Investment<\/strong>
\nThe awarded licenses focus on an area known as \u2018Cluster I\u2019 and are part of a broader initiative led by the Ministry of Energy to increase Israel\u2019s natural gas reserves for domestic use while expanding export potential to additional countries.<\/p>\n

\"\"
Gas Drilling Off the Coast of Ashkelon | Photo: Shutterstock<\/figcaption><\/figure>\n

Minister Cohen emphasized that awarding these licenses is “part of a clear policy aimed at attracting major international players and ensuring long-term energy security and stability for Israel.”<\/p>\n

What\u2019s Next? A Fifth Licensing Round on the Horizon<\/strong>
\nAccording to the Ministry of Energy, additional licenses are expected to be granted later this year, with a fifth competitive licensing round set to be announced soon. This development highlights the growing confidence of international corporations in Israel\u2019s energy sector and strengthens Israel\u2019s position as a leading partner in the regional energy market.<\/p>\n

\"\"
Offshore Natural Gas Processing Platform | Photo: Flash90<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

Six natural gas exploration licenses have been granted to international energy companies SOCAR from Azerbaijan and BP from the UK, alongside Israel\u2019s NewMed Energy.<\/p>\n","protected":false},"author":35,"featured_media":17476,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,85,65],"tags":[3153,3395,1480,3154],"class_list":["post-17474","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-positive-moment","category-world","tag-economy","tag-energy","tag-israel","tag-natural-gas"],"yoast_head":"\nMomentum in Israel\u2019s Gas Sector as BP and SOCAR Join Exploration Efforts - REGA news<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Momentum in Israel\u2019s Gas Sector as BP and SOCAR Join Exploration Efforts\" \/>\n<meta property=\"og:description\" content=\"Six natural gas exploration licenses have been granted to international energy companies SOCAR from Azerbaijan and BP from the UK, alongside Israel\u2019s NewMed Energy.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/reganews.co.il\/en\/momentum-in-israels-gas-sector-as-bp-and-socar-join-exploration-efforts\/\" \/>\n<meta property=\"og:site_name\" content=\"REGA news\" \/>\n<meta property=\"article:published_time\" content=\"2025-03-18T14:28:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/reganews.co.il\/en\/wp-content\/uploads\/2025\/03\/gas1-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"768\" \/>\n\t<meta property=\"og:image:height\" content=\"576\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"By Menachem Marton\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"By Menachem Marton\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/reganews.co.il\/en\/momentum-in-israels-gas-sector-as-bp-and-socar-join-exploration-efforts\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/reganews.co.il\/en\/momentum-in-israels-gas-sector-as-bp-and-socar-join-exploration-efforts\/\"},\"author\":{\"name\":\"By Menachem Marton\",\"@id\":\"https:\/\/reganews.co.il\/en\/#\/schema\/person\/85289d9583f8c0d96ade025fd71ebd5a\"},\"headline\":\"Momentum in Israel\u2019s Gas Sector as BP and SOCAR Join Exploration Efforts\",\"datePublished\":\"2025-03-18T14:28:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/reganews.co.il\/en\/momentum-in-israels-gas-sector-as-bp-and-socar-join-exploration-efforts\/\"},\"wordCount\":309,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/reganews.co.il\/en\/#organization\"},\"image\":{\"@id\":\"https:\/\/reganews.co.il\/en\/momentum-in-israels-gas-sector-as-bp-and-socar-join-exploration-efforts\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/reganews.co.il\/en\/wp-content\/uploads\/2025\/03\/gas1-1.jpg\",\"keywords\":[\"economy\",\"Energy\",\"Israel\",\"natural gas\"],\"articleSection\":[\"ECONOMY\",\"POSITIVE\",\"WORLD\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/reganews.co.il\/en\/momentum-in-israels-gas-sector-as-bp-and-socar-join-exploration-efforts\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/reganews.co.il\/en\/momentum-in-israels-gas-sector-as-bp-and-socar-join-exploration-efforts\/\",\"url\":\"https:\/\/reganews.co.il\/en\/momentum-in-israels-gas-sector-as-bp-and-socar-join-exploration-efforts\/\",\"name\":\"Momentum in Israel\u2019s Gas Sector as BP and SOCAR Join Exploration Efforts - 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