Partners of Israel’s Leviathan gas field, including Chevron with a 39.66% stake, have signed a $610 million contract with the state operator Israel Natural Gas Lines to build a 65-kilometer pipeline transporting gas from Ramat Hovav in southern Israel to the Nitzana border crossing with Egypt. The pipeline is expected to be completed by 2028 and will carry at least 600 million cubic feet of gas per day, potentially increasing Israel’s total gas export capacity to Egypt to over 2.2 billion cubic feet per day. This project follows a $35 billion supply agreement signed in August, marking Israel’s largest export deal to date. Gas license fees and taxes from the project are expected to contribute hundreds of millions of shekels to the Israeli state budget.
Read the full article on The Times of Israel