NewMed Energy has announced the proposed combination with Capricorn Energy PLC. For more information, including access to the press release and presentation to analysts and investors, please click here:
Leviathan is the great promise of the national energy market, and an economic growth engine for the State of Israel and its citizens.
Resources 605.00 BCM
Working Interest 45.34%
Partners Chevron (39.66%), Ratio (15%)
This increase in demand is fueled in large part by the energy transition and local, regional and global efforts to decarbonize the economy.
The facilities of Leviathan Phase 1A were designed and constructed to accommodate future expansion of production, by adding various modules to existing infrastructure. For example, the Leviathan Processing Platform was designed such that it can accommodate equipment that would increase its output from 12 to 21 BCM.
While the current development is strictly based on the Israeli natural gas grid and on a pipeline network, Phase B of the project is expected to include a significant liquefaction component, that will expand Leviathan's customer base beyond the Eastern Mediterranean, to Europe and the Far East. To that end, commercial negotiations are being held with two existing liquefaction facilities in Egypt, while an option for liquifying natural gas on a floating facility anchored in the Israeli EEZ is being explored.
Phase B of Leviathan is expected to propel it onto the global stage, and to secure the East Med as one of the world's most important energy hubs.