The reverberations of the war between Israel and the Hamas terrorist organization are being felt not only in the conflict-ridden region but also across the global energy economy. In a newly-published report, Bank Leumi’s Chief Economist Dr. Gil Michael Bufman elaborated on the situation’s wide-reaching ripple effects.

In a proactive move, the Israeli Tamar reservoir halted the flow of natural gas, which has led to the suspension of gas exports to Egypt via the East Mediterranean Gas (EMG) pipeline. This sudden disruption is expected to have a significant impact on Egypt’s ability to export liquefied natural gas to Europe and various other nations. Less gas available means higher prices, and this could potentially end up impacting the wider global gas market.

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