Giant Leviathan Gas Field Offshore Israel Resumes Operations

The Leviathan gas field offshore Israel is resuming production after a two-week shutdown due to the Israel-Iran conflict. The field, operated by Chevron, was shut down on June 13 following an Israeli strike on Iranian nuclear sites. A ceasefire earlier this week allowed Chevron to receive notice from the Israeli Ministry of Energy and Infrastructures to restart the platform and prepare for production. Chevron is working to restart the platform and resume regular production within a few hours. Leviathan is a major supplier of gas to Egypt and Jordan, which had to scramble to replace lost gas supply during the shutdown. Another gas field offshore Israel, operated by Energean, also stopped production during the conflict but has been cleared to restart output. Energean is working to safely restart production and resume normal operations at its offshore platform. The resumption of Israeli gas field operations is expected to ease concerns in Egypt and Jordan about gas supply and put downward pressure on Europe's gas prices. The restart of production is a welcome development for energy security in the region. The CEOs of both Chevron and Energean have expressed their commitment to bringing production back online safely and in coordination with authorities.