The Jerusalem Post annual conference: 7 Israeli ministers will meet you there!
Energy Ministry: State revenues from natural resources will quadruple by 2020
By
May 20, 2014 03:36
Annual revenues from natural resource royalties are expected to climb to $2.1b. annually in 2020, four times as much as those in 2013.
Silvan Shalom

Silvan Shalom. (photo credit:REUTERS)

State revenues obtained from royalties on natural resource development is expected to increase fourfold by 2020 to about $2.1 billion per year, National Infrastructure, Energy and Water Ministry forecasts revealed on Monday.

The cumulative revenues from 2014 to 2020 for natural gas, oil and other natural resource royalties – not including those from the Dead Sea – will add up to about $9.7b., the ministry said. The contribution of natural gas is to be the highest, accounting for about 94 percent of the revenues from royalties.



Be the first to know - Join our Facebook page.


“The collection of royalties provides the state with a stable source of income,” said National Infrastructure, Energy and Water Minister Silvan Shalom. “Revenues from natural resources enrich the state coffers and increase the investment in education, welfare and other fields, for the citizen’s benefit.”

Annual revenues from natural resource royalties are expected to climb to $2.1b. annually in 2020, four times as much as those in 2013 and 10 times as much as those in 2012, according to the ministry.

A particularly sharp increase in the amount of revenues received by the state will likely occur in 2018, after the start of natural gas production from the large Leviathan reservoir, the ministry added.

The predicted figures were based on a number of estimates, such as production amounts, sales price, date of production commencement and many other parameters that could impact the figures if changed, the ministry acknowledged.
Relevant to your professional network? Please share on Linkedin

Tags:
  • environment
  • israel energy
  • israel natural gas
  • israel oil
  • Prev Article
    Air pollution levels spike following Lag Ba’omer
    CHILDREN GATHER around a Lag Ba’omer bonfire last year
    Electric bicycle
    Road Safety Authority: Critical to set regulations for use of electric bicycles
    Next Article
    Share this article via
    from around the web
    Related Content
    Holland Park’s forest, north of Eilat.
    August 11, 2014
    Promising trend of prosecution for environmental crimes, officials say

    By SHARON UDASIN

    Top Stories
    Israel Weather
    • 10 - 24
      Beer Sheva
      9 - 20
      Tel Aviv - Yafo
    • 12 - 19
      Jerusalem
      10 - 20
      Haifa
    • 13 - 27
      Elat
      10 - 24
      Tiberias