The start of natural gas flow from the Tamar field boosted the government's royalties from natural resources to a record NIS 543 million in 2013, the Ministry of National Infrastructures announced today. It forecasts that royalties and fees on natural resources will reach NIS 730 million in 2014.
Gas and oil revenues were 160% higher in 2013 than in 2012. Natural gas royalties accounted for 93% of total royalties from natural resources in 2013 - NIS 523 million, of which the Tamar and Yam Tethys fields accounted for NIS 513 million.
Royalties from phosphates totaled NIS 13 million in 2013, less than in 2012, because of the drop in global prices and the strong shekel. The government also collected NIS 6.5 million in fees and other activities.
"Royalties will rise sharply in the coming years, with the expansion of production from Tamar, increased production from the Rosh Ha'Ayin holding, and the start of royalties from other quarries," says the Ministry of National Infrastructures.
Published by Globes [online], Israel business news - www.globes-online.com - on February 23, 2014
© Copyright of Globes Publisher Itonut (1983) Ltd. 2014