On May 8, the leaders of Cyprus, Israel and Greece agreed to move forward on a planned pipeline that would supply eastern Mediterranean natural gas to Europe. The decision was made during a top-level, trilateral meeting in Cyprus. Israeli Prime Minister Benjamin Netanyahu called the planned pipeline a “very serious endeavor” and is especially important for Europe, which is seeking to diversify its energy sources. The three leaders also reiterated support for planned undersea electricity and fiber optic cables that would connect their countries.
On May 15, U.S. company Intel confirmed its plan to invest $5 billion into expanding its production plant in Kiryat Gat, Israel, through 2020. According to Israel’s Finance Ministry, Intel will purchase around one billion dollars’ worth of products from local suppliers, as well as add approximately 250 people to its Israeli workforce in the upcoming years. Israeli Minister of Economy and Industry Eli Cohen said that “Intel’s choice to continue to invest significantly in Israel is an important expression of confidence in the State of Israel and in the Israeli economy. We see Intel as a partner and its renewed choice to invest in Israel reinforces the economy and employment in Israel and we expect this cooperation to continue in the future as well. More than 320 foreign companies operate in Israel and make a significant contribution to growth, innovation, export and employment.”
Israeli-based company Mobileye, which was acquired by Intel Corp. last year, has begun testing self-driving cars on highways around Jerusalem in recent months, the company announced on May 8. According to the co-founder and CEO of Mobileye, the company aims to expand testing to the United States in the next month—first in California and then in Arizona. Mobileye is a developer of chips for car cameras and driver-assistance features. In January, Intel and Mobileye unveiled their first autonomous car, equipped with 12 cameras and sensors that enable the cars to navigate the traffic by providing the vehicle with different fields of view.
On May 26, Israel was scheduled to receive a cargo shipment of liquefied natural gas from America for the first time since exports began in 2016. The vessel departed from Louisiana on May 3 for Israel’s Hadera import terminal. In addition to imports, Israel has been producing more gas from domestic fields. Earlier this year, a private Egyptian company agreed to purchase gas from U.S. company Noble Energy Inc. and its partners from Israel’s two largest offshore fields, Leviathan and Tamar.
On May 29, Israeli company mPrest announced its selection as a finalist by the Smart Electric Power Alliance (SEPA) for the 2018 SEPA Power Players Awards, in the "Visionary of the Year" category. “We are honored to be nominated alongside such innovative companies and recognized for doing our part to aid the utility industry in transitioning to clean, smart energy,” mPrest CEO and Founder Natan Barak said. “As our cities become smarter and more advanced, the evolution of utilities is more crucial than ever. Our flexible 'system of systems' gives them the tools they need to manage all of their platforms, prevent power outages and shortages, and stay ahead of asset health- all in one place.” In October 2017, mPrest—which developed the command-and-control software behind the Iron Dome missile defense system—deployed new technology to help the New York Power Authority (NYPA) prevent power outages, with funding from the Israel-U.S. Binational Industrial Research and Development (BIRD) Foundation.
Type: Energy Matters