Israel is set to halt offshore natural gas exploration in the Mediterranean Sea, pledging instead that next year will be "the year of renewable energy," according to media reports on Wednesday.

In her speech at the ninth Eilat-Eilot Renewable Energy Conference, Israeli news outlet Times of Israel quoted Israeli Energy Minister Karine Elharrar as saying that "gas can wait."

The outlet noted that Elharrar "will not accept the recommendations of the former ministry director-general, Ehud Adiri, to continue exploring for natural gas in the Mediterranean Sea."

The Israeli minister also said the energy ministry would not embark on the fourth stage of licensing for natural gas exploration next year and instead would establish a renewable energy department within the ministry to promote renewable energy transition.

The first and second Israeli offshore bid rounds closed in November 2017 and July 2019, respectively. After the flow of first gas from the Leviathan fields in late 2019, the third bid round was announced on June 23 last year, while successful bids are yet to be announced, according to the country's ministry of energy.

In April, the country reportedly was preparing to launch the fourth offshore bidding round for exploration licenses in the coming months.