Israel resumes limited gas exports despite ongoing conflict; Egypt still waiting

Israel resumed exports of natural gas from its surplus, according to the Energy Ministry on Thursday. This comes nearly a full week after Israel and Iran engaged in an aerial battle.

According to a spokesperson for the ministry, exports will resume "once domestic needs have been met and surpluses are available."

According to a source in the energy ministry, most of the gas exported is flowing into Jordan and "tiny quantities" have reached Egypt only this week.

Egyptian fertilizer producers who had to stop operations because of the disruption in gas supply have said they still haven't received any gas, but are expecting it to return next week.

The Egyptian Petroleum Ministry didn't immediately respond to an inquiry for comment.

After the military escalated in the area, Israel stopped exports on the 13th of June after closing the Leviathan and Karish fields operated by Chevron. The Tamar field is the only one that has been left operational and supplies mainly domestic needs.

Israeli Energy Minister Eli Cohen stated on Wednesday that exports will only resume when military authorities have deemed them safe.

"I didn't want our strategic storage to be used, so I had to reduce exports," said the man.

Egypt is scrambling for a solution to the gas shortage. Since 2022, Egypt has become increasingly dependent on Israeli gas due to a decline in domestic production. The country has increased the use of fuel oil in power plants, signed deals for over $8 billion in liquefied gas imports and is preparing more floating regasification systems.

According to the Joint Organisations Data Initiative, Israeli gas accounts for around 60% of Egypt's gas imports. It also represents a fifth or less of Egypt's gas consumption. Reporting by Steven Scheer and Mohamed Ezz; editing by David Gregorio

(source: Reuters)