gas

Despite objections from three senior ministers, limited fuel transfer to Gaza was approved; stormy cabinet discussion expected

Contrary to complaints, Israel’s defense agencies say the decision to allow fuel into Gaza maintains their ability to achieve operational goals.

“The economy’s energy needs will be supplied by alternative fuels… The electricity industry is preparing to use alternative fuels to power its stations.”

If it continues to cause disruptions in natural gas and oil supply, The Israel-Hamas conflict is expected to drive global energy prices up, impacting consumers and markets worldwide.

The platform, which can been seen from the northern Gaza Strip on a clear day, is within range of rocket fire from the Gaza Strip.

Turkey halted flows on Iraq's northern oil export route about six months ago after an arbitration ruling by the International Chamber of Commerce.

After the first explosion, the fire spread to two fuel tanks and a nearby house, leading authorities to evacuate everyone within a radius of 700 meters.

"This step will expand the country's revenue and strengthen diplomatic ties between Israel and Egypt," Energy Minister Israel Katz said.

According to the ministry, the unregistered yacht was docked at the port with over 100 liters of diesel in the tank.

Lebanon hopes gas and oil discoveries will help it reverse a crippling economic crisis that has cost the local currency more than 98% of its value.