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25.09.25 - 12:06
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Chevron Strikes Deal With Israel To Build Natural Gas Supply Pipeline To Egypt (ZeroHedge)
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Chevron Strikes Deal With Israel To Build Natural Gas Supply Pipeline To Egypt
Authored by Alex Kimani via OilPrice.com,
Chevron Corp. (NYSE:CVX) has signed a deal with Israel Natural Gas Lines, Israel's state-owned pipeline operator, to begin construction of the Nitzana natural gas pipeline that will transport natural gas from the giant Leviathan Gas Field to Egypt.
Scheduled to be completed in three years, the $610 million pipeline is expected to ease Egypt's ongoing energy crisis, which currently spends billions of dollars every year importing liquefied natural gas (LNG) to meet surging domestic energy demand.
The Nitzana pipeline will transport ~600 million cubic feet of natural gas per day, bringing Israel's total export capacity to Egypt to more than 2.2 billion cubic feet per day. Israel's NewMed is Leviathan's main operator with a 45.3% working interest; Chevron has a 39.7% working interest, while Ratio Energies has 15%. Founded in 1992, Ratio Energy is one of Israel's l...
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