MARKET STRUCTURE · REGULATORY · ISRAEL
Israel orders temporary partial shutdown of natural gas reservoirs
Change
On Feb. 28, Israel’s Energy Ministry ordered the temporary shutdown of parts of Israel’s natural gas reservoirs following U.S.-Israel strikes on Iran.
Why Now
The Israeli Energy Ministry issued an order to temporarily shut down parts of the country’s natural gas reservoirs. Sources told Reuters that Chevron-operated Leviathan offshore Israel was shut down. Energean said its production vessel serving several Israeli fields was also shut down. The ministry declined to specify which fields were affected beyond those reports. The ministry stated the action was taken in line with security assessments and that alternative energy sources and fuels were available for electricity generation if needed.
Impact
- • Chevron-operated Leviathan gas field is shut down, per sources.
- • Energean’s production vessel serving multiple Israeli fields is shut down, per company statement.
- • Israel’s electricity sector is set to operate power stations using alternative fuels if required, per the ministry.
Who Recalculates
- • Natural gas field operators
- • Gas production vessel operators
- • Electricity generators and power station operators
- • Energy ministry and energy system operators
Source
Topics
World & Politics Security & Defense Law & Public Safety Regulatory Actions Energy & Power Oil & Gas