ExxonMobil is making a move toward the Israeli market, but competition in the gas sector remains a long way off...

ExxonMobil is engaging in discussions with Energean to form a joint bid for a new gas exploration tender in the Israeli market. This move is anticipated to spark competition in the sector, potentially challenging Chevron's dominance in the Leviathan and Tamar gas fields, where it holds significant stakes.

The entry of ExxonMobil could lead to increased investment and development in Israel's gas resources, affecting both the local economy and the energy landscape. However, competition in this sector is still expected to take time to materialize.