Dr. Charles Ellinas
The importance of the East Med to Chevron’s gas plans was made clear at the company’s ‘2022 4Q Earnings Conference Call’ on January 27 and subsequently at its ‘Investor Presentation’ on February 28. Mike Wirth, Chevron’s CEO, confirmed that he considers the region to be of “high priority”.
He specifically referred to the $673 million ‘Final Investment Decision’ (FID) taken in December 2022 to expand Tamar gasfield production capacity in Israel from 11billion cubic metres per year (bcm/yr) to 16bcm/yr, expected to come online in early 2025. This will enable Tamar to meet Israel’s growing domestic demand and increase gas deliveries to Egypt.
Following the Tamar FID, Chevron and its partners approved close to $100m budget for the development of Phase 1B of the Leviathan gasfield. This includes pre-FEED engineering for field expansion, including construction of a 4.6million tonnes/yr floating LNG (FLNG) facility, three years after FID. The expansion will increase production capacity to 21bcm/yr from 12bcm/yr now.
The importance of the East Med to Chevron’s gas plans was made clear at the company’s ‘2022 4Q Earnings Conference Call’ on January 27 and subsequently at its ‘Investor Presentation’ on February 28. Mike Wirth, Chevron’s CEO, confirmed that he considers the region to be of “high priority”.
He specifically referred to the $673 million ‘Final Investment Decision’ (FID) taken in December 2022 to expand Tamar gasfield production capacity in Israel from 11billion cubic metres per year (bcm/yr) to 16bcm/yr, expected to come online in early 2025. This will enable Tamar to meet Israel’s growing domestic demand and increase gas deliveries to Egypt.
Following the Tamar FID, Chevron and its partners approved close to $100m budget for the development of Phase 1B of the Leviathan gasfield. This includes pre-FEED engineering for field expansion, including construction of a 4.6million tonnes/yr floating LNG (FLNG) facility, three years after FID. The expansion will increase production capacity to 21bcm/yr from 12bcm/yr now.



















