Chevron Expands Israeli Gas Supplies to Meet Egypt’s Growing Demand
Chevron Corporation is working to increase Israeli natural gas supplies to Egypt through pipeline connections, addressing what company President Freeman Shaheen described as Egypt’s “insatiable appetite” for the fuel. The American energy major operates two Israeli gas fields that currently supply Egyptian demand and is exploring additional development opportunities.
Egypt became a major LNG importer in 2024 after domestic production declined, contributing to global LNG market tightening. The country has added floating import terminals and doubled import volumes compared to 2018 levels. Chevron is considering multiple supply options, including US LNG deliveries and expanded pipeline capacity from the Leviathan field.
Last month, Israel announced a new long-term agreement with Egypt starting next year worth approximately $35 billion, representing Israel’s largest energy deal in history. Chevron is also advancing Leviathan expansion plans, potentially incorporating floating LNG production solutions.
Source: bloomberg.com
