(Bloomberg) Egypt is weighing the impact of a halt in production at Israel’s Tamar gas field on its plans to resume LNG exports to Europe, according to officials.Most Read from BloombergIsrael Latest: Top US General Warns Iran to Stay Out of ConflictSchumer Confronts Xi on Israel-Hamas Stance in Rare MeetingIsrael Latest: Over 1,100 Dead; US Sends Warships to RegionBank of America’s Wrong-Way Rate Bet Hurts Moynihan’s Growth PledgeThe stoppage means Egypt’s imports of Israeli gas have decline
The stoppage means Egypt’s imports of Israeli gas have declined by about 20% to around 650 million cubic feet per day, they said, asking not to be identified as they’re not authorized to speak publicly on the issue.
Israel’s gas shipments to Egypt fell by 20% as safety concerns prompted the shutdown of a key offshore field, threatening onward deliveries to Europe. Israel ordered the shutdown of the Tamar gas field run by Chevron Corp., citing safety concerns as fighting between its military forces and Hamas escalates.
The latest oil and gas news, dedicated to all things oil and gas: people, technologies, transactions, trends, and macro-economic analysis that impact commodity prices.