Israel’s Tax Authority on Tuesday published an updated forecast projecting it will collect between $60 billion and $75 billion in levies on natural gas and oil profits over the lifespan of the country’s offshore gas reservoirs.
The figure marks an increase of $1 billion to $3 billion compared with last year’s forecast, even though 2025 was excluded from this year’s projection. The Tax Authority attributed the rise mainly to a 6% increase, excluding 2025, in estimated proven and expected gas reserves and contingent resources at the Leviathan field, along with a 2% rise in projected gas sale prices compared with last year’s forecast.
The agency noted that the levies are typically finalized about a year, on average, after collection.
Through the end of 2025, the Tax Authority had already collected $2 billion in gas and oil profit levies, not including a separate levy on excess profits from Dead Sea mineral resources. Combined with future expected revenue, total levy collections across all of Israel’s gas fields, over their entire operational lifespan, are projected to range between $62 billion and $77 billion.