Israel Oil and Gas Report Q3 2016

Date: July 13, 2016
Pages: 77
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: I92A60C72C4EN

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Includes 3 FREE quarterly updates

BMI View: A lasting agreement and successful implementation of Israel's new offshore gas framework is crucial for the development of the country's prospective gas industry over the coming decade. While recent approval of the revised gas plan is a positive step, we remain cautious with our forecasts due to strong opposition to the contentious stabilisation clause within the country.

Latest Updates and Key Forecasts
  • On 22 May 2016, Israel's government approved the revised stabilisation clause in the country's offshore gas plan, after it had been rejected by the Supreme Court in March 2016. While this is a positive step, we remain cautious with our forecasts due to strong opposition to this deal within the country.
  • In late May 2016, the partners at Israel's Leviathan gas field signed an agreement to supply natural gas from the Leviathan field to a power facility controlled by IPM Be'er in central Israel. The USD3bn agreement sees gas deliveries amounting to 13bcm during a period of 18 years.
  • In May 2016, local oil and gas company Israel Opportunity reported that its Hatrurim license could contain between 7-11mn bbl of oil.
  • Noble Energy is reportedly negotiating the sale of 11% stake in the Tamar gas field to three Israeli companies - Clal Insurance, Harel Insurance and Finance and Menora Mivtachim. Currently, Noble Energy holds 36% interest in the field. The estimated value of the deal - approximately USD1.0bn.
  • We forecast Israel's current refining capacity to remain stable at 297,000b/d until 2025. Gradually rising oil prices and increasing regional competition in the refining sector will push Israel's refined products output slightly lower during our forecast period. Production is set to decline from an estimated 292,660b/ d in 2015 to around 277,000b/d in 2025.
  • We forecast Israel's gas consumption to increase by more than 40% over the coming decade, rising from 8.7bcm in 2015 to 12.3bcm in 2025. An upside to our forecasts comes from the increased usage of gas in transportation and power sectors.
BMI Industry View
  Table: Headline Forecasts (Israel 2014-2020)
Oil & Gas SWOT
Industry Forecast
Upstream Exploration
Latest Updates
Structural Trends
Upstream Projects
  Table: Key Upstream Projects In Israel
Upstream Production - Oil
Latest Updates
Structural Trends
  Table: Oil Production (Israel 2014-2019)
  Table: Oil Production (Israel 2020-2025)
Upstream Production - Gas
Latest Updates
Structural Trends
  Table: Tamar Project Gas Sales Agreements
  Table: Letters Of Intent To Supply Leviathan Gas
  Table: Gas Production (Israel 2014-2019)
  Table: Gas Production (Israel 2020-2025)
Latest Updates
Structural Trends
  Table: Refining Capacity and Refined Products Production (Israel 2014-2019)
  Table: Refining Capacity and Refined Products Production (Israel 2020-2025)
Refined Fuel Consumption
Latest Updates
Structural Trends
  Table: Refined Products Consumption* (Israel 2014-2019)
  Table: Refined Products Consumption* (Israel 2020-2025)
Gas Consumption
Latest Updates
Structural Trends
  Table: Gas Consumption (Israel 2014-2019)
  Table: Gas Consumption (Israel 2020-2025)
Trade - Oil
Latest Updates
Structural Trends
Crude Oil Trade Outlook
  Table: Crude Oil Net Exports (Israel 2014-2020)
  Table: Crude Oil Net Exports (Israel 2020-2025)
Refined Fuels Trade Outlook
Latest Updates
Structural Trends
  Table: Refined Fuels Net Exports (Israel 2014-2019)
  Table: Refined Fuels Net Exports (Israel 2020-2025)
Trade - Gas (Pipeline And LNG)
Latest Updates
Structural Trends
  Table: Leviathan Export Possibilities
  Table: Gas Net Exports (Israel 2014-2019)
  Table: Gas Net Exports (Israel 2020-2025)
Industry Risk Reward Index
Middle East - Oil & Gas Risk/Reward Index
  Table: Middle East Oil & Gas Risk/Reward Index
Upstream: Index Resilient In Lower Price Environment
  Table: Middle East Upstream Oil & Gas Risk/Reward Index
Downstream: Limited Opportunities
  Table: Middle East Downstream Oil & Gas Risk/Reward Index
Israel - Risk/Reward Index
Market Overview
Israel Energy Market Overview
Regulatory Structure
Fiscal Regime
  Table: Key Petroleum Taxes
Licensing Regime
Oil And Gas Infrastructure
Oil Refineries
  Table: Israel - Refineries
Oil Pipelines
  Table: 750km Of Pipelines
Oil Terminals
  Table: 37mn Cubic Metres Of Storage Capacity
Gas Storage
Gas Pipelines
Competitive Landscape
  Table: Key Players - Israeli Oil And Gas Sector
  Table: Key Downstream Players
Company Profile
Noble Energy
  Table: Major Upstream Assets in Israel
Regional Overview
Middle East Oil & Gas Regional Overview
Oil Production: Two Tiers Emerging
Oil Consumption: Subsidy Reform Tempering Demand Growth
  Table: Gasoline-95 Pump Price June 2015 & March 2016 (Usd/Litre)
Refining Capacity: Mega Refineries Outcompete In Oversupplied Market
Gas Production: In Need Of More Gas
Gas Consumption: Switch To Gas Power Will Boost Demand
  Table: Middle East Oil & Gas Production, Refining Capacity & Trade
  Table: Glossary Of Terms
Industry Forecast Methodology
Risk/Reward Index Methodology
  Table: Bmi's Oil & Gas Upstream Risk/Reward Index
  Table: Weighting
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Israel Oil and Gas Report Q3 2016
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