Leviathan Gas Field to be Connected to Egypt’s LNG Plants
- February 21, 2021
- Posted by: Quatro Strategies
- Category: Energy
Israel’s Energy Minister Yuval Steinetz said that Israel and Egypt have agreed to build a pipeline to link Israel’s offshore Leviathan natural gas field to LNG terminals in northern Egypt. Palestinians also signed an agreement with Egpyt’s energy minister Tarek El Molla, who visited Israel and the West Bank, to develop a gas field off the Gaza co
Israel’s Leviathan field is located 130 km off of Israel’s coast. The field supplies gas to the domestic market and exports gas to Jordan and Egypt. Chevron and Delek Drilling are among the shareholders.
Leviathan’s partners were searching for options to develop the project. A floating LNG facility or a subsea pipeline to connect with Egypt’s LNG terminals were on the cards. Steinitz said the partners and the two governments were moving ahead with the pipeline option.
The office of Israel’s energy ministry stated: “The two ministers agreed on the construction of (an) offshore gas pipeline from the Leviathan gas field to the liquefaction facilities in Egypt, in order to increase the gas exports to Europe through the liquefaction facilities in Egypt,”
Egypt’s energy minister El Molla also signed a memorandum of understanding with the Palestine Investment Fund and Consolidated Contractors Company to help develop the Gaza Marine field.
Gaza Marine is 30 km off the Palestinian coast and is estimated to hold over 28 bn. cubic meters of natural gas.
Get your daily Business Brief
Business Brief delivers the latest insights straight to your inbox
You'll get daily industry insights on
Energy, Cleantech, Oil & Gas, Mining, Defense, Aviation, Construction, Transportation, Online Retail, Bigtech, Finance and Politics of Business