Fossil Energy – Leviathan Israel
Partners in the Israeli offshore gas project Leviathan said on Sunday they would invest $568 million to build a third pipeline that will allow increased natural gas production and exports.
Leviathan, a deep-sea field with huge deposits, came online at the end of 2019 and produces 12 billion cubic metres (bcm) of gas per year for sale to Israel, Egypt and Jordan.
The idea is to boost capacity to include sizeable volumes for Europe as it seeks to reduce dependence on Russian energy.
The new pipeline will connect the well with a production facility some 10 km off Israel’s Mediterranean shore. It is due to come online in the second half of 2025, when production at Leviathan will jump to 14 bcm a year, the companies said.
The Leviathan consortium includes operator Chevron, Israel’s NewMed Energy and Ratio Energies.