Israel's Leviathan field primed for expansion, more gas exports approved [Yahoo! Finance]
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Source: Yahoo! Finance
The Middle East nation, currently involved in bitter fighting in Gaza, is looking to boost its economy and energy security by doubling the amount of natural gas available for export. Energy Minister Eli Cohen, as reported by Reuters , said increasing the exports would strengthen diplomatic ties with nations in the region, primarily Egypt and Jordan, and give the country an economic windfall. The Energy Ministry on Wednesday approved the export of an additional 118 billion cubic metres (bcm) of natural gas from the east Mediterranean reserves. This is far in excess of the 105bcm previously approved. Companies wishing to export more will need new export licences for specific amounts. The Leviathan partners – which include operator Chevron and Israeli companies NewMed Energy and Ratio Energies – will also invest $500m to expand the huge gas project, a figure previously reported by Reuters According to Offshore Technology 's parent company, GlobalData, the Leviathan gas field l
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