(WO) – The Leviathan gas field offshore Israel – touted as the largest gas field in the Mediterranean- is set for an expansion in natural gas export capacity, following preliminary approval from Israel’s Energy Ministry. The approval allows for an increase in export volume by up to 145 Bcm.
NewMed Energy’s CEO, Yossi Abu, emphasized the importance of this expansion for ensuring Israel’s energy security and enhancing export capabilities. The Leviathan partners—NewMed Energy, Chevron, and Ratio Energies—are preparing for front-end engineering design (FEED) and procurement related to this expansion, with an estimated cost of $400-500 million.
Phase 1B of the development plan aims to boost production to 21 Bcm per year, addressing domestic demand and potentially supplying global markets. This phase includes plans for liquefied natural gas (LNG) to expand the customer base to Europe and the Far East, with negotiations ongoing for using liquefaction facilities in Egypt and a floating unit in Israel’s exclusive economic zone.
The existing infrastructure, designed for future expansion, received nearly $100 million in 2023 for enhancements, including a future floating LNG terminal with a capacity of 4.6 million tons of LNG annually. The Energy Ministry’s approval stipulates that from 2044, natural gas export will be on an interruptible basis, ensuring domestic supply needs are met first.
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