Egypt Assures Energy Supply After Israeli Gas Halt Amid Regional Tensions

Alanbatnews -

Egypt's Ministry of Petroleum and Mineral Resources has announced proactive measures to secure the country's energy supply of natural gas and petroleum products following the halt of gas imports from Israel.

The ministry, in a statement released Saturday, emphasized that it is closely monitoring the repercussions of recent military actions that led to the disruption of gas supplies from the Eastern Mediterranean. The announcement comes after Israel declared a halt to gas exports to Egypt amid escalating geopolitical tensions.

The ministry highlighted the diversification of supply sources and the availability of alternative capabilities to meet domestic needs, especially concerning electricity, industry, and citizen consumption. This includes securing additional quantities of liquefied natural gas (LNG) through diversified sourcing, long-term agreements with international companies, and maximizing domestic production.

The ministry also outlined the development of an integrated infrastructure to receive LNG imports and operate regasification vessels. These efforts are coupled with ongoing support for exploration and production activities, facilitated by consistent payments to partners.

Regarding petroleum products, the ministry affirmed increased availability and the establishment of secure strategic reserves of gasoline, diesel, and butane gas. Measures include boosting refining rates, executing routine maintenance programs, optimizing storage capacities, and maintaining stocks of imported products to ensure market stability.

Israel's Energy Ministry said that Israel has halted gas exports to Egypt, according to Reuters. The ministry did not specify the duration of the stoppage or the affected fields.

Unofficial estimates suggest that the suspended gas flow amounts to approximately 1.1 billion cubic feet per day from the Tamar and Leviathan fields located in the deep waters of the Mediterranean Sea, according to Anadolu Agency.

Egypt has recently contracted to lease five liquefied gas regasification vessels to ensure supply security. These vessels are currently operating in Ain Sokhna Port with a total capacity of nearly two billion cubic feet per day.

Egypt aims to increase gas production to between 6.4 billion and 6.6 billion cubic feet per day over the next five years, supported by significant investments from international companies, according to Anadolu.

The Israeli Energy Ministry had directed a temporary closure of parts of the country's natural gas reservoirs following the attack on Iran on Saturday.