Netanyahu at Leviathan Gas Platform: Israel is extracting NIS 400 billion in gas and oil from the sea

Prime Minister Benjamin Netanyahu and Energy Minster Eli Cohen visited Israel's Leviathan Gas Platform, which is located some 130 kilometres (81 mi) west of Haifa.

The Prime Minister's Office stated: "To date, approximately 32 billion NIS have been transferred to the state treasury, and cumulative revenues expected from the gas and oil sector are projected to exceed NIS 350 billion."

The statement further noted that gas extraction has created a situation where "electricity prices in Israel are more than 20% lower than in the European Union and Western countries. The historic gas agreement with Egypt, valued at approximately NIS 112 billion, illustrates the economic and diplomatic potential of the resource, with about NIS 58 billion of that expected to reach the state treasury."

The platform is seen as a strategic potential target for Israel's enemies. During the visit, Netanyahu and Cohen were briefed on the efforts to protect the platform by the commander of the Israeli Navy's Haifa base.