(Replace) October 28, 2025, 7:30 AM GMT+1: Article up to date with Energean assertion and word on verification requests to Israeli vitality ministry, INGL and Chevron.
Israel’s Pure Fuel Authority allotted 41.8 p.c of the capability of the deliberate Nitzana pure fuel pipeline to Egypt to the Chevron Corp-led Leviathan consortium, Leviathan co-venturer NewMed Power LP stated Sunday.
NewMed Power, one in all Chevron’s two native companions for the fuel and condensate area offshore Israel, stated in a bourse submitting that to the very best of its data, the remaining capability will likely be allotted to the Tamar fuel area, additionally operated by Chevron, at 41.8 p.c and London-based Energean PLC at 16.4 p.c.
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“Chevron, on behalf of the Leviathan companions, signed an modification to the Transmission Settlement supposed to replicate the up to date allotted fee”, stated the announcement on the Tel Aviv Inventory Trade.
Final month NewMed Power signed the Transmission Settlement with state-owned Israel Pure Fuel Strains Ltd (INGL), permitting the Leviathan companions to make use of at the least 33.33 p.c of the Nitzana pipeline’s capability to ship extra fuel to Egypt. The minimal allotment could possibly be elevated if different exporters don’t train their rights, NewMed stated then.
NewMed Power stated Sunday, “Moreover, to the very best of the Partnership’s [NewMed’s] data, concurrently therewith, the stated different two exporters additionally signed transmission agreements with INGL in respect of the share allotted to them within the challenge, thereby satisfying the situations precedent that had been stipulated for the Transmission Settlement’s entry into power and impact”.
The Leviathan companions can have a agency transmission capability of practically 176 billion British thermal models, NewMed Power stated Sunday.
Final Friday, Energean introduced a transmission cope with INGL for its 16.4 p.c Nitzana allocation. “The agreed phrases within the transmission settlement are for the provision of as much as one Bcm/yr for a 15-year interval, with provisions for extensions and early termination”, Energean stated. “The phrases additionally embrace rights, through the building section, to entry obtainable capability within the Jordan-North pipeline”.
Israel’s Power and Infrastructure Ministry, Chevron and INGL have but to answer to Rigzone’s request for affirmation on the Nitzana pipeline allocation and transmission settlement for Tamar.
NewMed Power added in Sunday’s announcement, “As well as, in accordance with the up to date allotted fee, the Partnership’s share within the estimated challenge building finances quantities to approx. $116 million”.
Israel’s authorities accredited the Nitzana Venture, which consists of the onshore pipeline and supporting infrastructure, about two years in the past, as introduced by the Power and Infrastructure Ministry Might 8, 2023.
Designed to lift Israel’s capability to export fuel to the North African nation by six billion cubic meters (211.89 billion cubic ft), the pipeline will stretch about 65 kilometers (40.39 miles) from the Ramat Hovav space to the Egyptian border close to Nitzana, in response to the ministry’s announcement.
Asserting the preliminary Transmission Settlement on September 16, NewMed Power stated, “INGL undertook to supply interruptible transmission providers of further portions of fuel over and above the essential capability, topic to the capability obtainable within the transmission system, in a minimal scope at least 1.8 Bcm per yr (for all the exporters that shall have interaction within the Transmission Settlement)”.
The Transmission Settlement lasts 15 years, extendable as much as 5 years, in response to the September announcement.
Earlier than the beginning of exports to Egypt underneath the Transmission Settlement, Chevron is allowed to divert volumes as much as the minimal allotment to the Jordan North pipeline, in response to the September announcement.
After the beginning of exports to Egypt, Chevron may nonetheless divert provide as much as the minimal allotment to Jordan if delivery to Egypt “is just not doable for no matter motive”, NewMed Power stated then.
“The circulation of fuel underneath the Transmission Settlement shall begin no later than 36 months from the date of success of the situations precedent”, the September announcement stated.
“Concurrently with the signing of the Transmission Settlement, Chevron and the opposite Leviathan companions signed a providers settlement, underneath which it was decided that the Leviathan companions shall be entitled to transmit pure fuel (by means of Chevron) underneath the Transmission Settlement, and be accountable for the success of Chevron’s undertakings underneath the Transmission Settlement on a back-to-back foundation, as if the Leviathan companions had been a celebration to the Transmission Settlement as a substitute of Chevron, every in response to its proportionate share within the Leviathan Venture”, NewMed Power stated on the time.
Earlier this yr the Leviathan companions requested an export allow for a not too long ago amended settlement for his or her present exports to Egypt. The brand new settlement with purchaser Blue Ocean Power is for a rise of 130 Bcm, NewMed Power stated August 7.
The added portions are anticipated to generate about $35 billion in income, in response to NewMed Power.
Below the modification, the entire quantity for Leviathan exports to Egypt will likely be elevated in two increments, first by about 20 Bcm and later by round 110 Bcm.
“The modification to the export settlement determines a mechanism for the timing of graduation of the provision of the elevated every day amount, which is based on the sellers’ estimate concerning the progress of the tasks required for enlargement of the every day provide amount, and mainly completion of section one of many [Leviathan] enlargement challenge and completion of the challenge for the development of the Nitzana pipeline”, NewMed Power stated then.
“To the sellers’ evaluation, as of the report date, the stated tasks are anticipated to be accomplished in 2029”, NewMed Power stated.
Chevron operates Leviathan with a 39.66 p.c stake by means of Chevron Mediterranean Ltd. NewMed, owned by Israel’s Delek Group, holds 45.34 p.c. Ratio Energies LP owns 15 p.c.
To contact the creator, e-mail jov.onsat@rigzone.com
