Consequences of a Potential Attack on Israel's Offshore Gas Platforms

With 5 charts

Source: Via the Washington Institute

Following the assassinations of Hezbollah leader Nasrallah on September 27 and Hamas political chief Ismail Haniyeh in Tehran last July, Iran carried out a two-wave ballistic missile attack on Israel on October 1. In response, Israel has declared its intention to retaliate against the Iranian missile strike. Potential targets include oil refineries and export facilities, nuclear sites, and other strategic Iranian assets.

Simultaneously, Israel has initiated a ground operation across its northern border into south Lebanon with the aim of targeting the militant group Hezbollah. This action has the potential to escalate into a wider regional conflict, with Israeli gas assets becoming potential targets.

Iran has already threatened to attack Israel’s gas platforms in the Mediterranean if Israel attack the oil facilities of Iran.

An attack on Israeli offshore natural gas facilities has the potential to severely disrupt the supply of natural gas to the Israeli local market as well as its neighboring nations, Jordan and Egypt. This disruption could result in energy shortages and potential price spikes, ultimately causing a ripple effect throughout the global LNG market.

Local Gas Market in Israel