The economy of Israel is a highly developed free-market economy. The prosperity of Israel's advanced economy allows the country to have a sophisticated welfare state, a powerful modern military said to possess a nuclear-weapons capability with a full nuclear triad, modern infrastructure rivaling many Western countries, and a high-technology sector competitively on par with Silicon Valley. It has the second-largest number of startup companies in the world after the United States, and the third-largest number of NASDAQ-listed companies after the U.S. and China. American companies, such as Intel, Microsoft, and Apple, built their first overseas research and development facilities in Israel. More than 400 high-tech multi-national corporations, such as IBM, Google, Hewlett-Packard, Cisco Systems, Facebook and Motorola have opened R&D centers throughout the country.
Israel Electric Corporation is the largest supplier of electrical power in Israel and the Palestinian territories. The IEC builds, maintains, and operates power generation stations, sub-stations, as well as transmission and distribution networks in Israel.
APA Corporation is the holding company for Apache Corporation, an American company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Houston. The company is ranked 431st on the Fortune 500.
The Arab Gas Pipeline is a natural gas pipeline in the Middle East. It originates near Arish in the Sinai Peninsula and was built to export Egyptian natural gas to Jordan, Syria, and Lebanon, with branch underwater and overland pipelines to and from Israel. It has a total length of 1,200 kilometres (750 mi), constructed at a cost of US$1.2 billion.
Elco Ltd. is an international conglomerate holding company headquartered in Tel Aviv, Israel. The company was founded in 1949 by Alexander Salkind, and has been managed since its establishment by three generations of the Salkind family. It is the parent company of Electra, Electra Consumer Products, Electra Real Estate, Supergas and others. By 2021 the company’s subsidiaries were active in 17 countries, with more than 21,000 employees, and a production site in Israel where it manufactures air conditioning units and electromechanical equipment.
Noble Energy, Inc. was a company engaged in hydrocarbon exploration headquartered in Houston, Texas. In October 2020, the company was acquired by Chevron Corporation.
The Tamar gas field is a natural gas field in the Mediterranean Sea off the coast of Israel. The field is located in Israel's exclusive economic zone, roughly 80 kilometres (50 mi) west of Haifa in waters 1,700 metres (5,600 ft) deep. The Tamar field is considered to have proven reserves of 200 billion cubic metres of natural gas, while the adjoining Tamar South field has 23 billion cubic metres. Together, they may have an additional 84 BCM of "probable" reserves and up to 49 BCM of "possible" reserves. At the time of discovery, Tamar was the largest find of gas or oil in the Levant basin of the Eastern Mediterranean Sea and the largest discovery by Noble Energy. Since Tamar's discovery, large gas discoveries have been made in other analogous geological formations dating back to the Oligocene–Miocene epoch in the Levant basin. Because Tamar was the first such discovery, these gas containing presalt formations have become collectively known as Tamar sands.
This article describes the energy and electricity production, consumption and import in Egypt.
East Mediterranean Gas Company (EMG) is an owner and operator of the Arish–Ashkelon pipeline, which was once referred to as the Peace Pipileine or the Peace Gas Pipeline. EMG is a joint company of Mediterranean Gas Pipeline Ltd MGPC which belongs to "Evsen Group of Companies" (17%), EMED BV (39%), East Gas Company EGC (9%), and the Egyptian General Petroleum Corporation (10%).
The Leviathan gas field is a large natural gas field in the Mediterranean Sea off the coast of Israel, 47 kilometres (29 mi) south-west of the Tamar gas field. The gas field is roughly 130 kilometres (81 mi) west of Haifa in waters 1,500 metres (4,900 ft) deep in the Levantine basin, a rich hydrocarbon area in one of the largest offshore natural gas field finds. According to some commentators, the gas find has the potential to change Israel's foreign relations with neighboring countries, including Turkey, and Egypt. Together with the nearby Tamar gas field, the Leviathan field is seen as an opportunity for Israel to achieve energy independence in the Middle East.
Cyprus–Israel relations refer to the bilateral relations between Cyprus and Israel. Israel has an embassy in Nicosia, while Cyprus has an embassy in Tel Aviv. Both countries are members of the Union for the Mediterranean, United Nations, Euro-Atlantic Partnership Council, Organisation for Economic Co-operation and Development, International Monetary Fund, World Bank, and World Trade Organization.
Sara and Myra were two Israeli offshore drilling licenses located west of Netanya, Israel. The licenses expired on July 13, 2015. Exploratory drilling in the license area in 2012 was unsuccessful, but seismic studies indicated the possibility of oil and gas at deeper strata that were not explored.
Hussein Salem was an Egyptian businessman, co-owner of the East Mediterranean Gas Company (EMG), and ally and advisor to former president Hosni Mubarak. He was also the chairman and CEO of HKS Group, a hospitality company that operates Maritim Jolie Ville Resort in Sharm El Sheikh. He was described as "one of the most secretive businessmen in Egypt", a mogul, and Mubarak's close confidant. He was known as the "Father of Sharm El Sheikh" due to his resort development activities. Per Suisse secrets held accounts at Credit Suisse for years, even after he had been publicly accused of bribery.
The Energy Triangle is a natural gas extraction plan between the three allied countries Cyprus, Israel, and Greece. The three countries agreed to use the gas fields Tamar, Leviathan, and Aphrodite; found in 2009, 2010, and 2011 respectively. About 40 trillion cubic feet (tcf) of natural gas were found between Cyprus and Israel, giving both countries an upper hand in the trading business within the region. Europe requires 19 tcf of natural gas a year and the Cypriot government believes that its Exclusive Economic Zone (EEZ) holds 60 tcf; Cyprus pursued this financially beneficial option for the Energy Triangle to provide energy for the European Union.
Most energy in Israel comes from fossil fuels. The country's total primary energy demand is significantly higher than its total primary energy production, relying heavily on imports to meet its energy needs. Total primary energy consumption was 304 TWh (1.037 quad) in 2016, or 26.2 million tonne of oil equivalent.
Natural gas in Israel is a primary energy source in Israel, mainly utilized for electricity production and to lesser degree in industry. Israel began producing natural gas from its own offshore gas fields in 2004. Between 2005 and 2012, Israel had imported gas from Egypt via the al-Arish-Ashkelon pipeline, which was terminated due to Egyptian Crisis of 2011-14. As of 2017, Israel produced over 9 billion cubic meters (bcm) of natural gas a year. Israel had 199 billion cubic meters of proven reserves of natural gas as of the start of 2016. In early 2017, Israel began exporting natural gas to the Kingdom of Jordan.
Yossi Maiman, also known as Josef Maiman, was a German-born Israeli businessman. He was the founder and owner of the Merhav Group, and a shareholder of the East Mediterranean Gas Company. He was a majority shareholder of Channel 10, an Israeli television channel. He was the owner, chairman, chief executive officer and president of the Ampal-American Israel Corporation.
Energean plc is an international hydrocarbon exploration and production company, with a focus on natural gas. It is listed on the London Stock Exchange as well as the Tel Aviv Stock Exchange and is a constituent of the FTSE 250 Index.
NewMed Energy, formerly Delek Drilling, is an Israeli energy Oil & Gas partnership in the exploration, development, and production of Natural Gas and Oil. Delek group owned by Yitzhak Tshuva, is the controlling shareholder of the partnership. The partnership is traded on the Tel Aviv Stock Exchange and is part of the TA 35 Index.
US$ 496.93 million (2010)
US$ -78.32 million (2010)
