Despite the public declaration by Israeli Prime Minister Benjamin Netanyahu and Energy Minister Eli Cohen’s that they had approved Israel’s $35bn gas export deal with Egypt last month, a number of hurdles are holding up implementation.
The partners at Israel’s Chevron-operated 22.3tcf Leviathan gas field aim to double contracted export volumes to around 1.2bn cfd by 2029 as part of the deal signed in August last year. Finalizing the sales deal is a prerequisite for the Leviathan partners to take a final investment decision (FID) on expanding the field’s capacity to 2.1bn cfd. Capacity is currently 1.2bn cfd, and is due to reach 1.45bn cfd in April. (CONTINUED – 850 WORDS)
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