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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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11.03.25 - 03:54
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Egypt′s Ambitious Oil And Gas Plans (ZeroHedge)
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Egypt's Ambitious Oil And Gas Plans
Authored by Felicity Bradstock via OilPrice.com,
Egypt plans to build a $7 billion petrochemical complex and launch new oil and gas auctions to boost domestic production.
The country aims to enhance energy security and attract foreign investment, despite recent economic challenges and energy shortages.
Egypt is balancing its fossil fuel development with renewable energy targets, though it has adjusted its green energy goals.
Oil-rich Egypt has big plans for the future of its fossil fuel development with several major new auctions and investments planned for the North African country. A new $7 billion petrochemical complex and other major oil and gas investments are expected to reinvigorate Egypt's oil industry, although it may have to win back investor confidence following a disappointing financial year.
Egypt is a major African fossil fuel producer, the second-largest non-OPEC producer of liquid fuels after Angola. It was also the second-la...
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