For over two decades, the core business of NewMed Energy has been focused on the exploration, development and production of natural gas off the shores of Israel and Cyprus. In recent years, natural gas has become a key component in the fuel basket used to generate electricity in Israel, as well as a significant energy source for industry. The natural gas discoveries offshore Israel are sufficient to supply all of the domestic gas needs for several decades, to significantly reduce the dependency of Israel on foreign energy sources, and even to enable the export of substantial amounts of natural gas to countries in the region and beyond.
NewMed Energy aims to minimize the negative impacts and to expand and maximize the positive impacts of its business. Thanks to the production of natural gas and the penetration of its use in the Israeli market, particularly in the electricity generation sector, a dramatic decrease has been recorded in pollutant emissions in Israel. The natural gas that NewMed Energy has marketed since 2004, together with its partners, has made it possible to gradually eliminate the use of diesel and fuel oil for electricity generation in Israel, and has led to a significant reduction in the use of coal. Thanks to the supply and availability of natural gas, the Government of Israel has decided to completely stop the use of coal by the end of 2025. The cessation of the use of diesel and the reduction in the use of coal directly cut pollutant emissions from power generation in Israel by over 70%. Furthermore, the gas that NewMed Energy markets to its customers in Egypt and Jordan facilitates similar decarbonization trends there.
In addition, the unique natural characteristics of the Eastern Mediterranean region compounded by pressures put upon it by a range of activities, including offshore gas operations, make it extremely vulnerable to environmental damage. Therefore, there is need to take strict safety and security precautions to prevent malfunctions and to minimize pollution resulting from oil and natural gas exploration and production activities.
The Leviathan reservoir is the largest natural gas reservoir in the East Mediterranean, with gas reserves sufficient to supply both the Israeli market and the region for decades to come. In addition to significantly reducing air pollution, Leviathan has generated significant benefits to Israel and its population. Leviathan anchored Israel’s energy independence, and made it a regional supplier, a process of strategic importance to Israel's geopolitical standing.
The Leviathan Platform obtained its Air Emission Permit from the Ministry of Environmental Protection (MoEP) in November 2019. The Permit includes maximum emission values for the emission sources on the platform, as well as instructions with respect to implementation of the best technologies for monitoring, sampling, control, and reporting.
For further information on the environmental permits under which Leviathan operates, including monitoring, identification and repair of leaks, preservation of the marine environment, water treatment, safety, and more, please visit the Leviathan website.