Chevron Corp has declared power majeure on the Leviathan pure gasoline and condensate subject offshore Israel on the order of the federal government, one of many firm’s native companions mentioned Sunday.
Performing on a “safety advice”, Israel’s vitality and infrastructure minister on Saturday requested operator Chevron to droop operations on the Leviathan platform till additional discover, NewMed Vitality LP mentioned in a inventory submitting.
Israel’s petroleum affairs commissioner individually ordered the Leviathan companions to “put together for a versatile working coverage for the platform”, NewMed’s regulatory disclosure mentioned. “Such coverage could embody, inter alia, non permanent suspensions of manufacturing, in accordance with periodic scenario assessments and ongoing updates obtained from the safety authorities”.
- Advertisement -
Leviathan gasoline is piped to the home market, Egypt and Jordan. The sphere bought 8.1 billion cubic meters (286.05 billion cubic ft) to the three nations within the first 9 months of 2025 with Egypt accounting for greater than half (4.8 Bcm), in line with NewMed’s newest monetary assertion.
Analysts at Wooden Mackenzie mentioned Monday they anticipate Egypt to extend liquefied pure gasoline imports to offset losses from the suspension.
The suspension comes simply after the Leviathan consortium accepted stage 1 of a venture to boost manufacturing. Anticipated to start out operation within the second half of 2029, the $2.36-billion first stage of the Section 1B venture goals to extend capability to about 21 billion cubic meters a yr, in line with a NewMed January 18, 2026. NewMed already introduced August 21, 2025 the Vitality and Infrastructures Ministry had accepted Section 1B.
Leviathan, found 2010 off the coast of Haifa metropolis, began manufacturing December 2019 below Section 1A, which has a capability of about 12 Bcm each year, in line with NewMed.
The January 18 submitting additionally mentioned all situations for the entry into power of an amended settlement signed final yr between the Leviathan consortium and their present buyer Blue Ocean Vitality had been fulfilled. The brand new deal, introduced by NewMed August 7, 2025, raises gasoline exports to Egypt by a complete quantity of 130 Bcm.
On December 17, 2025 NewMed Vitality mentioned the consortium had obtained approval from Israel’s Vitality and Infrastructures Ministry for the elevated gasoline exports to Egypt.
Chevron operates Leviathan with a 39.66 % stake by way of Chevron Mediterranean Ltd. NewMed, owned by Israel’s Delek Group, owns 45.34 %. Ratio Energies LP, additionally an Israeli firm, holds 15 %.
To contact the creator, e mail jov.onsat@rigzone.com
What do you assume? We’d love to listen to from you, be a part of the dialog on the
Rigzone Vitality Community.
The Rigzone Vitality Community is a brand new social expertise created for you and all vitality professionals to Converse Up about our business, share information, join with friends and business insiders and have interaction in an expert group that may empower your profession in vitality.
