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According to Sinochem News, on January 16, Chevron announced that it had approved a major expansion of the Leviathan gas field off the coast of Israel, which it operates, in order to strengthen its position as a key supplier in the Eastern Mediterranean gas market. Chevron and its partners have made a final investment decision on this project, aiming to increase the gas field’s annual gas production capacity to around 21 billion cubic meters by drilling three additional offshore wells, installing new subsea infrastructure, and upgrading the existing processing facilities on the platforms. The new production capacity is expected to come online by 2030. The Leviathan gas field is one of the largest natural gas discoveries in the Mediterranean, and it currently serves as the main source of natural gas for Israel’s domestic market as well as for exports to Egypt. Its natural gas is transported via pipelines to Egypt, with some used for domestic consumption and some exported to the European market. Chevron views this investment as a strategic move to enhance regional energy security. The company emphasizes that, as the EU seeks to diversify its gas supply in order to reduce its dependence on Russian energy, Leviathan, although it accounts for a small share in global liquefied natural gas trade, has become a key regional supply hub that supports Egypt’s liquefied natural gas export facilities. Since acquiring Noble Energy in 2020, Chevron has continued to expand its influence in the region. In addition to Leviathan, the company also operates the Tamar gas field off the coast of Israel, and is developing the Aphrodite gas field off the coast of Cyprus.