There have been no substantive changes to our forecasts over the last quarter, with generation set to rise at an average annual rate of just over -.- , through to ----, when we expect that output will reach --.-TWh, up from --.-TWh in ----. By ----, coal will represent --.- of total output and --.- of total thermal generation. ...The move was in part designed to ensure that the PA was given an incentive to clear its ILS-bn debt to Israel Electric Corporation. After many delays, the Leviathan gas project finally appeared to get off the ground in June ----, with the partners in the project authorising US-based Noble Energy to sign a USD---mn contract for front-end engineering design services and a production platform. In September ----, a General Electric delegation visited Israel to look into expanding operations in- country under the auspices of General Electric Israel. ...After many delays, the Leviathan gas project finally appeared to get off the ground in June ----, with the partners in the project authorising US-based Noble Energy to sign a USD---mn contract for front-end engineering design services and a production platform.
...GDP per capita, USD --,--- --,--- --,--- --,--- --,--- --,--- Real GDP growth, y-o-y -.- -.- -.- -.- -.- -.- Population, mn -.- -.- -.- -.- -.- -.- f = BMI forecast. Source: National sources, BMI Israel is a mature market, with all the pros and drawbacks (including limited scope for high returns) entailed by that. ...Source: National sources, BMI Israel is a mature market, with all the pros and drawbacks (including limited scope for high returns) entailed by that. Power officially reaches ---.- of the population, customers get reasonable value for money and the country is raked in the top quartile worldwide, in terms of quality of supply. GDP growth should be strong in the coming years, providing plenty of fiscal revenues for investment in infrastructure, including power. ...GDP growth should be strong in the coming years, providing plenty of fiscal revenues for investment in infrastructure, including power. However, corruption is quite high for a developed country and the government has largely resisted diversification into new energy types.
...BMI View: Israel is overwhelmingly dependent on the thermal sector, a situation which is unlikely to alter significantly during our forecast period, with its contribution to overall generation set to abate from --.- in ---- to --.- in ----, while rising in absolute terms. During the course of the next -- years, gas will become a more important generator of thermal power than coal, while there will be a moderate improvement in the contribution of non-hydropower renewables. ...
