Israel Shuts Leviathan and Karish Gas Fields After Iranian Strikes

Israel's energy ministry has directed Chevron and Energean to temporarily suspend production at the Leviathan and Karish natural gas fields following joint U.S.-Israeli strikes on Iran and subsequent retaliatory action across the region. Chevron has declared force majeure at Leviathan, marking the second time in less than a year that hostilities with Iran have disrupted Eastern Mediterranean gas flows. Leviathan, Israel's largest gas field, currently produces approximately 12 billion cubic metres of gas annually for Israel, Egypt, and Jordan, and was projected to increase output to 14 bcm by 2026. Energean's Karish field has a capacity of 540 million cubic feet per day. The shutdown has left only the older Tamar field operational, which is used primarily for domestic supplies. The disruption has significant regional implications. Israeli gas accounts for roughly 15-20% of Egypt's energy consumption, and the shutdown has forced Cairo to curtail gas supplies to some industries, including fertilizer producers. Analysts expect Egypt to increase LNG imports to offset the loss of Israeli volumes. Despite the security-driven shutdown, Chevron and its partners — NewMed Energy (45.34%) and Ratio Energies (15%) — had approved a $2.36 billion expansion for Leviathan in January 2026, aiming to boost capacity to 21 bcm per year by the end of the decade. The field holds an estimated 22.9 trillion cubic feet of recoverable gas and underpins a $35 billion long-term export deal with Egypt running through 2040.