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Gaza war will hike Israeli and Mideast gas risk

Tuesday, December 5, 2023

Significance

The Israel-Hamas conflict that started on October 7 has had a direct impact on Israel’s gas supply. Following the Hamas attack, the Israeli government stopped production at the offshore Tamar field for over five weeks, as it is within range of Hamas missiles. It also stopped gas exports to Egypt.

Impacts

  • Potential investors in Israel’s natural gas sector are likely to become more cautious.
  • Doubt over Israel’s ability to supply gas to Europe (to replace Russian gas) will increase.
  • The risks could spur further Israeli domestic investment in renewable energy infrastructure.
  • Uncertain supply from Israel will have a negative impact on Egypt’s gas balance and export plans.

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