Chevron has given the green light for production expansion at the Leviathan field in Israel, the company announced on Friday.
The decision will increase gas deliveries to countries including Egypt and Jordan as demand in the region continues to rise. Leviathan ranks among the largest natural gas fields in the Eastern Mediterranean and serves as a cornerstone of Israel’s energy system.
According to the company, the expansion will increase total deliveries from the field to approximately 21 billion cubic metres annually, Reuters reports. The project is expected to come into operation towards the end of the decade, further strengthening Leviathan’s role as a regional energy hub.
Exports to Egypt feed LNG facilities which in turn supply natural gas to Europe, a factor that enhances the field’s geoeconomic significance.
Leviathan partners include Chevron Mediterranean Ltd as 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 managing director 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.
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