The Tamar field, located 15 miles off Israel’s southern coast, meets 70% of Israel’s energy needs for power generation, according to the US energy company.
A prolonged shutdown could lead to a drop in Israeli gas exports to its neighbors, Egypt and Jordan, as well as squeeze an already tight global gas market.
For now, Chevron (CVX) continues to supply its customers in Israel and the region with gas from the larger Leviathan platform.
Goldman Sachs analysts think the Tamar shutdown has “contributed” to the rally in European gas prices.
However, all in all, the consequences for the global gas market would be “very limited,” he added, because Israel isn’t a major supplier.
Persons:
Sally Jones, ” Jones, Chevron, “, Tamar, —, Wood Mackenzie, Goldman Sachs, Simone Tagliapietra, Marc Israel Sellem, Chevron’s Wheatstone, Tagliapietra, Israel, ”, Israel isn’t, Jordan, Israel’s, Martijn Murphy, Luo, ” Murphy
Organizations:
New York CNN, Chevron, Israel’s Ministry of Energy, Hamas, CNN, Rystad Energy, International Energy Agency
Locations:
London, New York, Israel, Egypt, Jordan, Europe, Ukraine, Baltic, Australia, Finland, Estonia, Tamar