Leviathan Offshore Gas Project to Expand, Boosting Production Capacity

Partners Approve 429 Million Investment

Completion to Increase Annual Output to 21 BCM

WEB Partners in the Israeli Leviathan offshore gas project have approved a 429 million investment to expand the field and increase its production capacity.

The Leviathan natural gas reservoir, located in the Mediterranean Sea, holds vast reserves of natural gas. The expansion project will involve the construction of a new production platform and the installation of additional pipelines.

Completion of the Israeli offshore project will allow the increase of annual production capacity from 12 BCM to 21 BCM. This will significantly boost Israel's energy independence and its ability to export gas to neighboring countries.

The Leviathan project partners include NewMed Energy, Chevron Mediterranean Limited, and Ratio. The partners have approved an additional 429 million budget for front-end engineering design (FEED) and preliminary procurement.

The expansion project is expected to be completed by 2025. It will create jobs and boost the Israeli economy. The project will also contribute to the region's energy security and environmental sustainability.