East Med FLNG plan
May 11 (LNGJ) - NewMed Energy, the Israeli natural gas company and LNG project developer in the East Mediterranean and currently considering a 50 percent stake sale to UK major BP and Abu Dhabi National Oil Company, said BP and ADNOC were now carrying out a due diligence review of NewMed and its assets.
With respect to the expansion plan for the Leviathan gas field offshore Israel, NewMed said there were continuing pre-engineering work and discussions taking place. “There are also various technical, commercial and economic processes for promotion of the Leviathan expansion and the FLNG project, which will supply LNG from Leviathan to the international markets,” NewMed explained.
Israel’s NewMed Energy makes LNG development decision after halting merger with UK’s Capricorn
NewMed Energy, a stakeholder with US major Chevron in the large Leviathan natural gas field offshore Israeli, has approved budgets for 2023 including gas field development to provide feed gas for a floating LNG project.
Chevron earnings soar and CEO comments on East Med LNG prospects and Australian plant maintenance
Chevron Corp., the LNG operator in Australia and Africa, reported a more than four-fold jump in first-quarter earnings of $6.3 billion compared with $1.4Bln in the first three months of 2021 as more revenues came from LNG plants in Australia and Africa.
