On 20th February, 2023, the Leviathan partners approved a $96.4 mill for Front End Engineering and Design (pre-FEED) for Phase 1B of the Israeli offshore Leviathan gas reservoir development project.
This includes the utilisation of an FLNG.
Leviathan is claimed to be the largest gas field in the Mediterranean and the aim is to increase the total gas production capacity by another 9 bill cu m per annum, to give a total of around 21 bill cu m per year, leading partner NewMed confirmed.
As part of the new phase, the partners will tender for an FLNG, to be owned by the partnership. The unit will have an annual production capacity of about 4.6 mill tonnes of LNG for both export and for use in Israel’s domestic market.
The money includes $44.9 mill (100%, the Partnership’s share is $20.4 mill) for the performance of pre-FEED and the commencement of FEED, for the expansion of the Leviathan reservoir’s production system, as well as $51.5 mill (100%, the Partnership’s share is $23.3 mill) for the FLNG’s pre-FEED.
This unit will be the subject of a competitive tender process involving international groups specialising in their design and construction.
The rights holders in the Leviathan project, and their holding rates are - The Partnership (45.34%), Chevron Mediterranean Limited (39.66%) and Ratio Energies – a limited partnership of 15%.
