Israel's Gas Fields Resume Operations Amid Ceasefire

Israel's Leviathan and Karish gas fields, halted by conflict, have resumed supplying Egypt and Jordan after a recent ceasefire. The fields significantly impact Israel's export economy, with production losses reaching $12 million. Egypt expects a gradual increase in imports, resuming full operations soon.

Israel's key natural gas fields, Leviathan and Karish, have resumed operations following a two-week shutdown prompted by the Iran-Israel conflict. This restoration marks a significant step in resuming energy exports to Egypt and Jordan, as confirmed by the companies involved in managing these resources.

The suspension of operations at Leviathan, operated by Chevron, alone resulted in a $12 million revenue loss. This has prompted Leviathan's partners, NewMed and Ratio Energies, to explore potential state compensation. The restart coincides with a ceasefire agreement, indicating potential stabilization in regional tensions.

The resumption of gas exports is anticipated to enhance Israel's energy revenue and contribute 15-20% to Egypt's consumption. Egypt's Prime Minister announced the resumption of gas supplies to factories imminently, aiding in the revival of the Egyptian fertilizer sector post-disruption.

(With inputs from agencies.)