HeadlinesBriefing favicon HeadlinesBriefing.com

Israel Halts Gas Exports Amid Iran Attack Escalation

Bloomberg Markets •
×

Israel has ordered the temporary shutdown of key natural gas fields following an attack on Iran in coordination with the US. The Energy Ministry confirmed the security measure without specifying affected sites. Energean Plc said it received orders to suspend production at the Karish deposit.

The shutdown mirrors actions taken last June when tensions with Iran escalated. Back then, Israel closed its largest field — Leviathan — and Karish, cutting off supplies to Egypt. Leviathan alone exports about 4.5 billion cubic meters annually to Egypt under existing contracts.

This disruption highlights the vulnerability of energy infrastructure in the region. Egypt, which became a net gas importer in 2024, has locked in long-term supply deals worth $35 billion through 2040. The June shutdown forced Cairo to halt industrial supplies, including to fertilizer producers, underscoring how quickly regional conflicts can impact global energy markets.