Israel has stopped production at its Tamar gas field in the wake of the conflict between Israel and Palestinian militant group Hamas, reported Reuters.
US oil and gas company Chevron, which operates the offshore gas field, said that Israeli authorities have asked for operations at the field to be shut down.
There are six production wells at Tamar, according to Chevron, each generating between 7.1 and 8.5 million cubic metres of natural gas per day.
It meets 70% of Israel’s energy requirements for producing power.
The development follows the deadliest assault on Israeli territory last week by Hamas militants since Egypt and Syria attacked Israel during the Yom Kippur War 50 years ago.
In a statement, Israel’s Energy Ministry said: “In the wake of the situation, Israel’s defence establishment ordered the temporary suspension of natural gas supplies from the Tamar field.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
“The economy’s energy needs will be supplied by alternative fuels. The power industry is preparing to use alternative fuels to power its stations.”
If necessary, Energy Minister Yisrael Katz has also been given permission by Prime Minister Benjamin Netanyahu’s administration to declare a state of emergency for Israel’s energy industry over the course of the next two weeks, the Energy Ministry said.
However, this move will not impact the distribution of natural gas to consumers, the ministry added.
Tamar is situated on Israel’s southern Mediterranean coast, some 25km from the city of Ashdod.
The platform is within the range of rocket firing from the Gaza Strip and can be seen from the northern Gaza Strip on a clear day.
Chevron said Leviathan, which is Israel’s largest offshore gas field, is still running normally.
The US energy company, through Chevron Mediterranean, holds a 25% stake in Tamar.
Other partners in the project include Isramco, which owns 28.75%, Tamar Petroleum with a 16.75% stake, and Mubadala Energy and Tamar Investment 2, which each own an 11% share.
Dor Gas and Everest hold the remaining 4% and 3.5% stakes, respectively.