NewMed Energy and its partners in the Leviathan gas project offshore Israeli plan to invest $568m to build a third pipeline to enable increased production from the Leviathan natural gas field.

Commissioned in 2019, the Leviathan deep-sea field comprises huge deposits. It produces 12 billion cubic metres of gas per annum (bcmpa) for sale to Israel, Egypt and Jordan.

The new pipeline is due to be laid from the Leviathan field to an existing production platform around 10km off the coastal town of Dor, Israel.

The pipeline is expected to allow expansion of the gas supply capacity from the Leviathan project to INGL’s transmission system to about 1.4 billion cubic feet per day (bcfd) from approximately 1.2bcfd from mid-2025.

The Leviathan consortium includes Israel's NewMed Energy, operator Chevron and Ratio Energies.

NewMed CEO Yossi Abu was quoted by Reuters as saying: "Expansion of the production capacity and future liquefaction via a designated liquefaction facility will allow us to supply more natural gas to the local, regional, and very soon also the global market.”

By 2027, the Leviathan partners are planning to nearly double production from the Leviathan field to 24bcmpa.

NewMed owns a 45.3% stake in the Leviathan field, which is said to be the largest natural gas reservoir in the Mediterranean.

It is estimated to hold 22.9 trillion cubic feet of recoverable gas. Chevron and Ratio own 39.66% and 15% stakes, respectively, in the field.

In March 2023, bp and Adnoc made a non-binding offer to jointly purchase a 50% stake in Israel’s NewMed Energy.