US major Chevron (39.66%), operator of Israel’s giant 23tcf Leviathan gas field and its Israeli partners NewMed Energy (45.34%) and Ratio (15%) announced on 6 October that completion of expansion from 1.2bn cfd to 1.4bn cfd capacity through the laying of a third pipeline will likely be delayed from mid-2025 to 2026.
“Due to escalation of the security situation, the work on laying the subsea pipeline as part of the Third Gathering Pipeline Project has been suspended until April 2025 or thereabouts, depending on the performing contractor’s timetables and work schedule, and on the regional security situation,” NewMed said in a statement to the Tel Aviv Stock Exchange on 6 October. (CONTINUED - 1359 WORDS)
