The price of gas rose further in Europe after the American energy company Chevron received orders to stop production in a gas field in Israel. The Israeli government issued this order due to the unrest in the region.
The price of gas rose to 17 percent. This is the strongest increase in seven weeks. Earlier in the day, gas prices rose in Europe as well. Then a possible leak was discovered in a gas pipeline in the Baltic Sea.
Production outages could put pressure on gas supplies from the eastern Mediterranean. Israel’s largest offshore gas field, Leviathan, will continue to operate normally, according to Chevron.
For twenty years, Israel has been exporting gas to neighboring countries after discovering a gas field in the Mediterranean Sea. Israel has been able to increase its gas production five-fold over the past ten years.
In the same period, the country encountered more offshore gas fields. As a result, gas supplies in Israel have increased by about 40% since 2013. The country plans to ship more gas to Europe.
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