US major Chevron is not letting the cash crunch instigated by the collapse in oil prices and Covid-19 get in the way of its ambitious target to further develop assets it will soon acquire once its $5bn takeover of compatriot Noble completes. MEES learns that the US major has already held high-level discussions with key stakeholders to begin development of Phase II of Israel’s 23tcf Leviathan offshore gas field by January next year.
That plan envisages the construction of a 360km pipeline directly to the Shell-operated 7.2mn t/y Egypt LNG export terminal at Idku on Egypt’s Mediterranean coast (see map). Leviathan was brought online at the end of 2019 (MEES, 3 January). Chevron is keen to proceed with the next phase as soon as possible. (CONTINUED - 1389 WORDS)