The East Mediterranean has swung into focus in recent months, with untapped gas reserves in proximity to key European markets the perfect tonic for EU policymakers trying to find alternate energy sources in the wake of Russia’s invasion of Ukraine.
US major Chevron is well placed to capitalize on this, and MEES learns the firm will make a decision on how to proceed with expanding its 22.7tcf Leviathan gas field offshore Israel within the next 12 months. A decision on Cyprus’ 4.1tcf Aphrodite field, also operated by Chevron, is also likely to be taken during the same period, with the potential to combine development of the two fields which lie just 30km apart (MEES, 1 October 2021). (CONTINUED - 1845 WORDS)
