Chevron approves Leviathan gas expansion, boosting Eastern Mediterranean supply, enhancing energy security, and reinforcing long-term regional natural gas investments. Chevron Corporation, through its subsidiary Chevron Mediterranean Limited, together with its joint venture partners, has taken a Final Investment Decision (FID) to proceed with a major expansion of the Leviathan natural gas development. This decision marks an important milestone for the Eastern Mediterranean energy landscape and underscores Chevron’s long-term commitment to strengthening natural gas supply in Israel and neighboring regional markets.
Chevron Corporation, through its subsidiary Chevron Mediterranean Limited, together with its joint venture partners, has taken a Final Investment Decision (FID) to proceed with a major expansion of the Leviathan natural gas development. This decision marks an important milestone for the Eastern Mediterranean energy landscape and underscores Chevron’s long-term commitment to strengthening natural gas supply in Israel and neighboring regional markets.
The Leviathan natural gas reservoir, regarded as one of the most strategic offshore gas assets in the region, is located off the coast of Israel and plays a crucial role in meeting rising domestic and cross-border energy demand. With this expansion decision, Chevron and its partners aim to significantly boost production capacity, reinforcing the field’s position as a cornerstone of regional energy security.
Commenting on the investment decision, Clay Neff, President of Chevron Upstream, highlighted Chevron’s growing footprint in the Eastern Mediterranean. He emphasized that the company’s natural gas operations are essential to supplying reliable and affordable energy to both local and regional markets. According to Neff, the expansion reflects Chevron’s confidence in the long-term energy outlook of the region and the importance of pragmatic energy policies that encourage investment while enhancing security of supply.
The Leviathan expansion project is expected to become operational toward the end of this decade, following the completion of construction and commissioning activities. Once implemented, the project will involve the drilling of three additional offshore production wells, the installation of new subsea infrastructure, and the upgrading of gas processing and treatment facilities on the existing offshore production platform. These enhancements are designed to support a substantial increase in gas output, with total annual deliveries from the Leviathan reservoir projected to reach approximately 21 billion cubic meters (BCM).
The expanded capacity will allow for greater volumes of natural gas to be supplied to Israel’s domestic market while also supporting exports to key regional consumers, including Egypt and Jordan. This increased supply is expected to play a critical role in reducing reliance on more carbon-intensive fuels and supporting regional energy transition goals.
Jack Baker, Managing Director of Chevron’s Eastern Mediterranean business, described the FID as a reaffirmation of Chevron’s partnership with the State of Israel. He noted that the project reflects the company’s commitment to responsibly developing natural gas resources that provide essential energy to millions of people across Israel and neighboring countries.
The Leviathan production platform is situated approximately 10 kilometers offshore Dor, Israel, and is operated by Chevron Mediterranean Limited. The working interest ownership structure includes Chevron Mediterranean Limited as operator with 39.66%, NewMed Energy holding 45.34%, and Ratio Energies owning the remaining 15%.
Beyond Leviathan, Chevron maintains a diversified portfolio of assets across the Eastern Mediterranean. These include the producing Tamar gas field offshore Israel and the Aphrodite gas field offshore Cyprus, which is currently under development. Additionally, Chevron operates two exploration blocks in Egypt and participates as a non-operated joint venture partner in another Egyptian exploration block in the Mediterranean Sea. Together, these assets position Chevron as a leading natural gas producer and investor across the broader Eastern Mediterranean region.
