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Leviathan gas field resumes operations

by theadvisertimes.com
4 months ago
in Business
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Leviathan gas field resumes operations
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Israel’s Leviathan offshore natural gas field has resumes operations after 32 days of inactivity since the outbreak of the war. The country’s largest field is again producing gas for the benefit of the domestic economy and exports to Egypt and Jordan. The Tamar gas field is the only offshore rig that has been operating so far during the war, and in the previous war with Iran there was a dramatic increase in the use of coal and diesel for electricity production compared with routine times. Energian’s Karish reservoir has not yet resumed operations.

The Ministry of Energy and Infrastructure said, “Following assessments of the situation and examination of all relevant considerations, it has been decided at this stage to resume operations for the Leviathan rig. The supply of natural gas to the domestic economy continues and will now be increased following the integration of another platform into the production system.”

On Saturday, February 28, when the current campaign against Iran broke out, the Leviathan and Karish reservoirs were shut down to reduce the risk of being hit. On the other hand, of course, relying on only one gas reservoir also slightly increases risks.

In the previous campaign against Iran last June, the Tamar reservoir serviced Leviathan’s customers as much as possible, and the coal-based power plants increased activity beyond normal. During peak demand times, Israel’s emergency fuel (diesel) was also activated to provide the power plants with the ability to continue operating. Back then, the war lasted only 12 days. Today, the war has continued for more than double that, which has increased pressure from the economy to reopen the reservoir.

Another consideration in favor of reopening the Leviathan field is the energy shortage in Egypt and Jordan, which rely significantly on Israeli gas, especially because of the blockade of the Strait of Hormuz, which prevents gas exports from Qatar. Significant blackouts have occurred in Jordan and Egypt in recent weeks to save energy following disruption in gas supplies from Israel. A combination of pressure from these countries, and the need to be a relatively reliable supplier even in troubled security times, may have tipped the scales in favor of reopening Leviathan at this stage.

This pressure has not been placed on Energean, which operates the Karish and Tanin offshore reservoirs in the north of the country. But another consideration, apparently, is the fact that the Karish platform is not very far from the Lebanese coast, in a region in which Hezbollah is active. An attack on the gas reservoirs is a scenario that probably worries the Ministry of Defense and Israel Navy, which is responsible for protecting Israel’s gas fields..





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BDO chief economist Chen Herzog, advisor to the Natural Gas Association, estimates that the closure has cost Israel NIS 1.5 billion in the last month in electricity production costs, lower gas royalties and a decrease in natural gas company assets. Of this, NIS 1 billion comes from the Leviathan field and NIS 500 million from the Karish field.

Energean, the operator of the Karish platform, which remains closed, said, “Energean welcomes the resumption of operations at the Leviathan platform, and the indication that risk assessments now support increased offshore production. The company remains in close engagement with the Ministry of Energy and security authorities regarding the status of Karish.

“While operational decisions are shaped by asset specific security considerarions, Karish remains a critical component of Israel’s energy system, supplying a significant share of domestic demand. Energean expects that, as conditions permit, actions will be taken soon to enable the prompt and safe return of Karish to production.”

Published by Globes, Israel business news – en.globes.co.il – on April 3, 2026.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2026.




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