Resumption of Israeli Gas Fields Sparks Economic Revival in Region

After an operational halt due to the Iran-Israel conflict, two of Israel's primary natural gas fields, Leviathan and Karish, have resumed gas exports to Egypt and Jordan. Their restart follows a ceasefire between Israel and Iran, as confirmed by Chevron and Energean, the companies managing these fields.

The Leviathan field had been inactive since June 13, causing a substantial revenue loss estimated at $12 million. Its reopening is expected to enhance state tax revenues and bolster energy management capabilities within Israel's electricity and industrial sectors.

Israeli gas, crucial to Egypt's energy consumption, is resuming gradually. Imports from Israel are poised to climb, with Egyptian FSRUs expected to fully operationalize soon, further enhancing economic ties and energy flows across the region.

(With inputs from agencies.)