The Israeli company NewMed Energy has submitted a US$2.4bn plan to the Israeli Government for the expansion and boosting of production at the Leviathan gas project, located offshore Israel. The Leviathan partners NewMed Energy, Chevron and Ratio Energies aim to boost production at the field to 23 bcm/year (from 12 bcm/year currently) in two stages.
Stage one includes the drilling of three additional production wells, the addition of related subsea systems and expansion of the processing facilities on the platform, which will increase the total gas production capacity to 21 bcm/year. Stage two includes the drilling of additional production wells and related subsea systems, as well as the laying of a fourth pipeline between the field and the platform, which would increase production capacity by another 2 bcm/year, thus totalling 23 bcm/year.
Leviathan, a deep-sea field with huge deposits, came online at the end of 2019 and produces natural gas which is sold to Israel, Egypt and Jordan. In late June 2024, Israel’s Ministry of Energy had given its preliminary approval to increase natural gas production and exports from the Leviathan field. The Leviathan partners are NewMed Energy (45.34%), Chevron Mediterranean (39.66%), and Ratio (15%).
Overall, Israel has total proved gas reserves of about 709 bcm (2023). The country produced over 25 bcm and exported more than 11 bcm in 2023.