Commodities
Israel Resumes Biggest Gas Field After War Shut It for a Month
A platform in the Leviathan natural gas field, in the Mediterranean Sea off Israel's coast, on Jan. 31, 2019
Photographer: Marc Israel Sellem/Jerusalem Post/AP PhotoIsrael’s largest gas field resumed production after a 33-day shutdown triggered by the Iran war, likely providing some relief for markets that are struggling with supply.
The Leviathan project can now resume supply for both the domestic market and exports, a spokesperson for stakeholder Newmed Energy LP told Bloomberg, a day after Israel’s energy ministry had said the restart was imminent. Leviathan is a massive gas field operated by Chevron Corp. in the Eastern Mediterranean Sea that’s crucial for supplying not just local Israeli requirements, but is also key for Egypt.