Leviathan partners in Israel to invest $568 million in 3rd natgas pipeline

1CM

02/07/2023 06:45

JERUSALEM, July 2 (Reuters) - Partners in the Israeli
offshore gas project Leviathan have agreed to invest $568
million to build a third pipeline that will allow increased
natural gas production, NewMed Energy  NWMDp.TA  said on Sunday.
    The third pipeline will connect the deep sea well to a
production facility some 10 km off shore. It is due to come
online in the second half of 2025, when production at Leviathan
will jump to 14 billion cubic meters (bcm) a year from 12 bcm.
    The Leviathan consortium includes Chevron  CVX.N  and
Israel's NewMed and Ratio Energies  RATIp.TA .

 (Reporting by Ari Rabinovitch
Editing by Steven Scheer)
 ((ari.rabinovitch@thomsonreuters.com;  +972-2-632-2202; Reuters
Messaging: ari.rabinovitch@thomsonreuters.com@reuters.net))