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Concerns Arise over Gas Shortage and Rising Electricity Prices in Israel: Israeli Media Reports

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Israeli Concerns Over Gas Shortages and Rising Electricity Prices

There are growing concerns in Israeli political circles about a potential shortage of gas reserves and the subsequent increase in electricity prices. This is largely due to the country’s exports of gas to Egypt and Europe.

Meeting with Prime Minister and Finance Minister

The Economic Attaché of Haaretz Marker newspaper has reported that Energy Minister Israel Katz will present data on the gas economy to Prime Minister Benjamin Netanyahu. Additionally, Finance Minister Smotrich will hold an emergency meeting to discuss expanding agreements on gas exports, which could exacerbate the shortage of gas in the local market and lead to higher electricity prices.

Postponed Meeting

A meeting scheduled between Energy and Infrastructure Minister Yisrael Katz, Prime Minister Benjamin Netanyahu, and Finance Minister Bezalel Smotrich was canceled. A new meeting will be scheduled at a later time. No specific date has been set yet.

Disagreement Over Gas Export Permits

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In a letter to Finance Minister Bezalel Smotrich, Energy and Infrastructure Minister Israel Katz criticized the halt in the promotion of permits for natural gas exports to Egypt and Europe. Katz argued that the Ministry of Finance has no authority in this matter and should focus on their areas of responsibility.

Potential Damage to the Economy

A source in the Ministry of Finance expressed concern that without a new policy and a professional committee to discuss the increase in natural gas exports, the economy could be negatively affected.

Export Policies and Committee Formation

The Energy Minister is expected to sign an increase in export permits for gas companies to Europe, Egypt, and Jordan within the next two weeks. These orders align with previously approved export policies, which require a policy committee to meet every five years. The Department of Energy is also working on establishing a committee to study the natural gas export policy.

Importance to the Israeli Economy

In a letter to the Israeli prime minister, Minister Katz emphasized the significance of the issue of gas exports for the Israeli economy and expressed concerns that certain actions may hinder progress and decision-making on this matter.

Source: Israeli media

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