Page 16 - GLNG Week 08 2023
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GLNG                                           MIDDLE EAST                                             GLNG




















































       Leviathan partners move ahead with



       Israeli floating LNG terminal





        ISRAEL           PARTNERS  in the Leviathan gas field  of Alexandria and the 5.2mn tpy Damietta LNG
                         announced their decision to earmark $51.5mn  plant west of Port Said.
       The Leviathan partners   for the preparation of a floating liquefied nat-  It is expected that it will be three years after
       have allocated    ural gas (FLNG) facility on February 21. The  a final investment decision (FID) before the
       $51.5mn for the   FLNG terminal located off the coast of Israel  additional gas produced at the Leviathan gas
       project.          will have a production capacity of 4.6mn tonnes  field begins flowing to Egyptian LNG plants.
                         per year.                            The FLNG terminal will commence operations
                           Partners NewMed Energy, Chevron and  after that.
                         Ratio Energies will also allocate $45mn to   The announcement comes on the same day
                         increase production at the gas field to 21bn cubic  that Israeli Foreign Minister Eli Cohen met US
                         metres by expanding the reservoir’s production  energy envoy Amos Hochstein to discuss the
                         system by designing subsea infrastructures and  Israeli energy sector’s potential to help Europe
                         altering the production platform. Currently, the  and the Middle East.
                         deep-sea field produces 12 bcm for sale to Israel,   “Some of the regional stability we aspire to
                         Egypt and Jordan.                    comes, among other things, from stability in the
                           With Europe seeking to wean itself off  energy market,” Cohen said.
                         Russian gas following the latter’s invasion of   The Leviathan gas field is the largest energy
                         Ukraine, the European Union signed a mem-  project in Israel’s history and began supplying
                         orandum of understanding (MoU) in June last  gas to Israel, Egypt and Jordan at the end of 2019.
                         year with Israel and Egypt for Israeli gas to be   NewMed Energy holds a 45.3% stake, Chev-
                         sent to Europe via LNG plants in Egypt, which  ron has a 39.7% interest and Ratio Energies owns
                         is home to the 7.5mn tpy Idku LNG plant east  a 15% interest. ™



       P16                                      www. NEWSBASE .com                       Week 08   24•February•2023
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