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.
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.
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