ISRAEL CLOSES AN IMPORTANT GAS FIELD NAMED "TAMAR" FOR SECURITY REASONS.
Israel has ordered the closure of a significant gas field managed by Chevron Corporation for security reasons.
Gas extractions carried out by Israel over the past two decades have transformed the country's economy and turned it into an exporter of this fuel. A portion of the supplies is destined for Egypt, which, in turn, transports it to Europe. This activity had become particularly active following the ban on gas supplies from Russia.
⚡️The shutdown of Tamar could lead to a reduction in supplies or even delays, especially after Egypt had planned to resume LNG exports to Europe this month in anticipation of the European winter. Gas prices in Europe have risen by 11% upon hearing this news.
In August, Israel had announced plans to export more gas from Tamar to Egypt as part of strengthening ties with its neighbor. The uncertainty surrounding these plans is due to increased tensions in the Middle East.
The offshore Tamar field is located 14.9 miles (24 kilometers) west of Ashkelon, north of the Gaza Strip, as reported by Bloomberg. According to Chevron's website, gas is produced from six wells, with each well producing approximately 7.1-8.5 million cubic meters per day.
Israel has ordered the closure of a significant gas field managed by Chevron Corporation for security reasons.
Gas extractions carried out by Israel over the past two decades have transformed the country's economy and turned it into an exporter of this fuel. A portion of the supplies is destined for Egypt, which, in turn, transports it to Europe. This activity had become particularly active following the ban on gas supplies from Russia.
⚡️The shutdown of Tamar could lead to a reduction in supplies or even delays, especially after Egypt had planned to resume LNG exports to Europe this month in anticipation of the European winter. Gas prices in Europe have risen by 11% upon hearing this news.
In August, Israel had announced plans to export more gas from Tamar to Egypt as part of strengthening ties with its neighbor. The uncertainty surrounding these plans is due to increased tensions in the Middle East.
The offshore Tamar field is located 14.9 miles (24 kilometers) west of Ashkelon, north of the Gaza Strip, as reported by Bloomberg. According to Chevron's website, gas is produced from six wells, with each well producing approximately 7.1-8.5 million cubic meters per day.
Mirko Castignani