Reuters — Israel has launched its fifth competitive process to search for more natural gas in the country’s economic waters, Energy Minister Eli Cohen said on Monday, seeking to bolster domestic reserves while increasing exports.

Israel’s gas needs are served by a number of fields off its Mediterranean coast, mainly Tamar, while most exports — largely to Egypt and Jordan — come from the nearby Leviathan site 130 kilometers (81 miles) offshore.

Both sites are part of the Eastern Mediterranean’s Levant Basin.

The tender will comprise three phases and take about a year to complete, Cohen said.

Chevron, which operates Tamar and Leviathan, will be allowed to bid as part of a consortium.

“The gas sector has proven its economic viability,” Cohen told a news conference, adding that exports to Egypt and Jordan “help to promote regional stability.”

Israel approved a $35 billion deal in December to supply 130 billion cubic meters (bcm) of gas to Egypt through 2040.

The tender has been ready for months but has been delayed by regional conflicts. A deal between Israel and Lebanon, which........

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