Israel Gas Panel Recommends 515 BCM Reserve, Leaves Chevron Stakes Intact

An interministerial committee led by Energy Ministry Director General Yossi Dayan issued final recommendations for Israel's natural gas market after more than two and a half years of work. It recommended reserving 515 billion cubic meters for domestic use through 2048, up from 440 BCM, while leaving Chevron's stakes in the Tamar and Leviathan fields unchanged. The panel said stable regulation would help attract international exploration investment and proposed a 15% domestic-supply requirement for discoveries smaller than 50 BCM. Israel has about 870 BCM in proven reserves, and the fifth offshore exploration round is offering five licenses.