Egypt Economy Buoyed By Return Of Israeli Gas

27 Jun 2025 Issue: 68 / 26 By: Peter Stevenson

When Israel’s Leviathan and Karish fields came back online this week Egypt and Jordan breathed a sigh of relief. Egypt’s gas output continues to fall, albeit at a slower rate, as it awaits the start-up of new wells.

Egyptian and Jordanian industrial plants largely ground to a halt during Israel and Iran’s 12-day war. With key Israeli piped gas imports to both nations halted, Cairo and Amman prioritized gas for power over industry (MEES, 20 June). The 24 June ceasefire enabled a swift restart of the 1.1bn cfd offshore Leviathan field, operated by US major Chevron (39.66%), and London-listed Energean’s 500mn cfd Karish field. Exports have already begun with industrial users receiving gas, alleviating any fears of a prolonged gas shortage for both nations.

“Following the change in security circumstances and after a situation assessment was conducted with the relevant security bodies, Minister of Energy and Infrastructure Eli Cohen instructed the reopening of the Karish and Leviathan natural gas platforms,” the Israeli Energy Ministry said in a statement on 25 June. (CONTINUED - 1738 WORDS)