Chevron has given the green light to expand production at the Leviathan field in Israel, a move that is expected to boost gas supplies both in the domestic market and in the regional markets of the Eastern Mediterranean.
The decision will increase gas deliveries to countries such as Egypt and Jordan as demand in the region continues to grow. Leviathan is one of the largest natural gas fields in the Eastern Mediterranean and is a cornerstone of Israel's energy system.
According to the company, the expansion will increase total deliveries from the field to about 21 billion cubic meters per year, as reported by Reuters. The project is expected to be operational towards the end of the decade, further strengthening Leviathan's role as a regional energy hub.
Exports to Egypt power LNG plants, which in turn supply natural gas to Europe, which upgrades the geo-economic importance of the field.
Leviathan's partners include Chevron Mediterranean Ltd as an operator with a 39.66% stake, NewMed Energy with 45.34% and Ratio Energies with 15%. "This milestone demonstrates our continued commitment to working with the State of Israel to develop natural gas resources and provide essential energy to millions of people in Israel, Egypt and Jordan," said Jack Baker, Chevron's general manager for the Eastern Mediterranean.
Chevron's broader assets in the region also include the Tamar field off Israel and the Aphrodite field off Cyprus, which is under development.
Capital.gr
