Latest news with #Energean
Yahoo
29-06-2025
- Business
- Yahoo
Israeli gas flows to Egypt return to normal as Iran truce holds
(Bloomberg) — Israeli natural gas flows to Egypt returned to normal levels after a truce with Iran allowed the Jewish state to reopen facilities shuttered by the 12-day conflict. Philadelphia Transit System Votes to Cut Service by 45%, Hike Fares US Renters Face Storm of Rising Costs Squeezed by Crowds, the Roads of Central Park Are Being Reimagined Sprawl Is Still Not the Answer Mapping the Architectural History of New York's Chinatown Daily exports have climbed to 1 billion cubic feet per day, according to two people with direct knowledge of the situation. That's up from 260 million cubic feet when Israel's Leviathan gas field, the country's biggest, restarted on Wednesday, they said, declining to be identified because they're not authorized to speak to the media. The increased flows have let Egyptian authorities resume supplies to some factories that had been halted because of the shortages. Israel temporarily closed two of its three gas fields — Chevron-operated Leviathan and Energean's Karish — shortly after launching attacks on Iran on June 13. The facilities that provided the bulk of exports to Egypt and Jordan resumed operations last week after a US-brokered ceasefire with the Islamic Republic took hold. The ramped-up supplies are a relief for Cairo, which has swung from a net exporter to importer of natural gas in recent years. As Israel and Iran traded blows, Egypt enacted contingency plans that included seeking alternative fuel purchases, limiting gas to some industries and switching power stations to fuel oil and diesel to maintain electricity output. America's Top Consumer-Sentiment Economist Is Worried How to Steal a House Inside Gap's Last-Ditch, Tariff-Addled Turnaround Push Apple Test-Drives Big-Screen Movie Strategy With F1 Luxury Counterfeiters Keep Outsmarting the Makers of $10,000 Handbags ©2025 Bloomberg L.P. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
27-06-2025
- Business
- Yahoo
Israel resumes natural gas exports from Karish and Leviathan gas fields
Israel's Leviathan and Karish natural gas fields have resumed operations after a near two-week shutdown due to regional conflict, reinstating vital energy exports to Egypt and Jordan. The Leviathan and Karish fields, managed by Chevron and Energean, respectively, recommenced operations after a ceasefire was reached between Israel and Iran. The reopening of these fields, which had been closed since 13 June, is set to restore natural gas supplies under existing sales agreements. The move is expected to increase gas exports, raise tax revenues, and provide greater operational flexibility for the electricity and industrial sectors. Earlier this month, Israel recommenced limited natural gas exports, prioritising domestic needs. The cessation of operations at Leviathan led to a loss of $12m (NIS40.62m) in revenue, according to a regulatory filing by Chevron's partners in Leviathan, NewMed and Ratio Energies, reported Reuters. The companies are considering seeking compensation from the state for the production halt. Leviathan, which currently produces 12 billion cubic metres (bcm) of gas annually for Israel, Egypt and Jordan, is projected to increase its output to approximately 14bcm by 2026. Israeli gas is a significant energy source for Egypt, accounting for 15–20% of its consumption, as per the Joint Organisations Data Initiative. The disruption forced Egyptian fertiliser producers to cease operations due to the gas supply shortfall. However, Egyptian Prime Minister Mostafa Madbouly has announced that gas supplies to factories will recommence from Friday, as stated in a cabinet release. According to Egyptian sources, imports from Israel are expected to ramp up gradually, with full operations likely by Saturday. Egypt also imports liquefied natural gas (LNG) for regasification. Currently, only one of the country's three floating storage and regasification units (FSRUs) is operational. The Energos Eskimo FSRU is set to become operational shortly, enhancing Egypt's capacity to regasify imported LNG and integrate it into the national gas grid. "Israel resumes natural gas exports from Karish and Leviathan gas fields" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
25-06-2025
- Business
- Bloomberg
Israel Orders Reopening of Biggest Gas Field After Ceasefire
Israel ordered the resumption of production at its biggest natural gas field following a truce in hostilities with Iran, setting the stage for higher exports to Egypt. The Chevron Corp. -operated Leviathan field was ordered to shut on June 13 as a precautionary measure following Israel's attacks on Iran and Tehran's subsequent retaliation. The Israeli Energy Ministry also ordered the reopening of the smaller Energean Plc -operated Karish field, which supplies the domestic market.
Khaleej Times
25-06-2025
- Business
- Khaleej Times
Israel's gas fields resume operations after shutdown during Iran conflict
Israel's two natural gas fields that supply Egypt and Jordan and were shut down nearly two weeks ago due to the Iran-Israel conflict have resumed operations, partners in the companies said on Wednesday. Two of Israel's three gas fields, Chevron-operated Leviathan and Energean's Karish situated off its Mediterranean coast, provide the bulk of exports to Egypt and Jordan, and have been shut since June 13. That left in operation only the older Tamar field, used mainly for domestic supplies. The halt of Leviathan resulted in a loss in revenue of $12 million, the partners said in a regulatory filing in Tel Aviv citing an initial estimate. They added they intend to examine the possibility of receiving compensation from the state in connection with the cessation of gas production. Energean and NewMed, a partner with Chevron, confirmed that the two fields had started operations after Israel and Iran agreed to a ceasefire on Tuesday, but that process takes many hours. Israel's Energy Ministry said that after a security assessment, the larger Leviathan field and smaller Karish would reopen, leading to the resumption of gas exports, a rise in state tax revenues and greater flexibility in managing the electricity and industrial sectors. Israeli gas accounts for about 15-20% of Egypt's consumption, data from the Joint Organisations Data Initiative shows. The disruption to Israel's gas supply had led Egyptian fertiliser producers to halt operations. Leviathan produces 12 billion cubic metres of gas per year for sale to Israel, Egypt and Jordan. That will rise to some 14 bcm in 2026. Ratio Energies is a partner in Leviathan alongside Chevron and NewMed. Two Egyptian sources told Reuters that imports from Israel were expected to rise gradually, with full operations likely by Saturday. More imports come in the form of liquefied natural gas for regasification in Egypt. But while Egypt currently has three Floating Storage and Regasification Units (FSRUs), only one is operational. The Energos Eskimo FSRU is expected to become operational soon, the sources said. The unit will be moved to the Sumed terminal, where it will be linked to the national gas grid. "It could take around 11 to 23 days for the unit to become fully operational, although the Ministry of Petroleum could try to compress the time needed," one source said.
Ammon
25-06-2025
- Business
- Ammon
Occupation to resume supplying gas to Jordan, Egypt within hours
Ammon News - Israel's NewMed said on Wednesday the Leviathan natural gas field that supplies gas to Egypt and Jordan, shut down nearly two weeks ago due to the Iran-Israel conflict, would resume operations in the next few hours. Two of Israel's three gas fields - Chevron-operated Leviathan and Energean's Karish - off its Mediterranean coast that provide the bulk of exports to Egypt and Jordan have been shut since June 13. That left in operation only the older Tamar field, used mainly for domestic supplies. Reuters
