The Hamas-Israel war has cast uncertainty over the flow of Liquified Natural Gas from Egypt to Europe.
Europe shouldn’t count on Egypt for more LNG in the short to medium term amid tight natural gas balances in the Eastern Mediterranean after the Hamas-Israel war erupted, the Oxford Institute for Energy Studies OIES said in a new report. Following the Hamas attack on Israel in early October, Chevron, the operator of the Tamar gas field offshore southern Israel, shut down production at the field per instructions from the Israeli energy ministry.
In the aftermath of the Hamas attack on October 7, Egypt was evaluating whether the stoppage of gas production at the Tamar field would scupper its plans to resume LNG exports to Europe as planned. Egypt, which aims to become a regional gas hub, has been exporting LNG to Europe from its terminals on the Mediterranean with gas from domestic production and from fields offshore Israel.
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