Connection

popular articles

France: EPR debate in Gravelines, energy and economic issues
Valorem Raises 200 Million Euros to Accelerate Its Growth in Renewable Energy
EDF finalizes acquisition of General Electric’s nuclear activities
France: Authorization for a 450 MWp agrivoltaic project in the Landes region of France
Equatorial Guinea raises fuel prices by up to 35% to ease budgetary pressure

Israel: Towards an Increase in Leviathan’s Storage Capacity

Following the border agreements validated with Lebanon, NewMed Energy is considering the construction of a new floating LNG terminal off the coast of Israel.
  • [favorite_button]

Please share:

NewMed Energy plans to build a floating LNG terminal off the Mediterranean coast of Israel.

A double possibility

This project is a continuation of the company’s Leviathan gas field, which is capable of storing over 22.9 Tcf of recoverable gas. NewMed Energy then has two options. The floating LNG terminal or a pipeline connection to LNG terminals.

However, the company seems to favor the first option as announced by Yossi Abu, the company’s CEO. Moreover, the Israeli government supports this solution. In addition, the final investment decision will be made very soon.

The second option would be to connect existing LNG terminals in northern Egypt. This would facilitate exports to more distant countries. This solution represents a considerable opportunity to sell toEurope, which is seeking to secure its energy supply.

The company is ready to invest significant sums to build a new pipeline to Leviathan. It could commit $550 million to such a facility. This would increase the capacity of its project to about 14 billion cubic meters per year, compared to the current 12 billion.

Ambitious goals

NewMed Energy hopes to have a capacity of 21 billion cubic meters per year over the decade. This project could well be supported by the company’s results, which showed a net profit of $123 million in July-September. During the quarter, natural gas reported net revenues 28% higher than the previous year.

Leviathan, in which NewMed has a 45.3% stake, could also benefit. Its production has increased by 0.2 billion m3 in just one year. In addition, the project produced 8.5 billion m3 of natural gas during the first nine months of the year.

To strengthen its position, NewMed is also considering a merger with the British Capricorn Energy Plc. The two parties will finalize the transaction in the first quarter of 2023, even though it is far from unanimous. Many shareholders have raised arguments against the project.

However, Barclays analyst Tavy Rosner seems optimistic as he sees the deal as potentially positive for NewMed. In addition, the company is listed on the London Stock Exchange, giving it access to capital. Finally, it could benefit from Capricorn’s experience and results.

Register free of charge for uninterrupted access.

Publicite

Latest news

Aircela launches a machine that produces gasoline from air and electricity
Sustainability Partners takes control of Ecofin’s renewable assets in the United States
Google commits to 600 MW of solar with energyRe in South Carolina
$960mn in funding secured for Des Neiges wind project in Québec
Canada aims to mobilise $1.1tn through major energy projects by 2035

Recently published in

Enbridge sells 12.5% stake in British Columbia pipeline to 36 First Nations

A CAD715mn ($524mn) partnership enables First Nations to co-own the Westcoast system, backed by a federal loan guarantee of CAD400mn ($293mn).
New Pipeline Connecting Permian Basin to Midwest Scheduled for 2028
Tallgrass Energy announces plans for a pipeline directly connecting the Permian Basin to the Rockies Express network, scheduled to start operations in late 2028 after securing initial commercial agreements with key shippers.
en_1140290945540-8
New Pipeline Connecting Permian Basin to Midwest Scheduled for 2028
Tallgrass Energy announces plans for a pipeline directly connecting the Permian Basin to the Rockies Express network, scheduled to start operations in late 2028 after securing initial commercial agreements with key shippers.
en_1140290945540-8
Aramco could invest in Woodside’s Louisiana gas project
Woodside Energy has announced a collaboration agreement with Saudi Aramco for a potential stake in its $17.5bn liquefied natural gas project in Louisiana, scheduled to begin production in 2029.
en_1140290948540-8
Aramco could invest in Woodside’s Louisiana gas project
Woodside Energy has announced a collaboration agreement with Saudi Aramco for a potential stake in its $17.5bn liquefied natural gas project in Louisiana, scheduled to begin production in 2029.
en_1140290948540-8
Sinopec drills 5,300 metres deep and sets new record for shale gas
Sinopec announced a new vertical depth record with its Tiebei 1HF well, reaching 5,300 metres and producing over 314,000 cubic metres of gas per day in the Sichuan Basin.
en_1140290957540-8
Sinopec drills 5,300 metres deep and sets new record for shale gas
Sinopec announced a new vertical depth record with its Tiebei 1HF well, reaching 5,300 metres and producing over 314,000 cubic metres of gas per day in the Sichuan Basin.
en_1140290957540-8

McDermott successfully installs Scarborough FPU off the coast of China

McDermott has completed the offshore installation of the Scarborough floating platform for Woodside Energy, marking a key step in the preparatory maintenance phase of the gas project in Western Australia.
ArcLight takes majority control of NGPL amid rising energy demand
The fund managed by ArcLight Capital Partners has acquired 25% of Natural Gas Pipeline Company of America, bringing its total stake to 62.5% alongside Kinder Morgan.
en_1140290944540-2-2
ArcLight takes majority control of NGPL amid rising energy demand
The fund managed by ArcLight Capital Partners has acquired 25% of Natural Gas Pipeline Company of America, bringing its total stake to 62.5% alongside Kinder Morgan.
en_1140290944540-2-2
LNG Energy Group targeted by trade ban after delayed filing
The Ontario Securities Commission has imposed a trading suspension on LNG Energy Group due to the non-filing of its annual financial statements for fiscal year 2024.
en_1140290946540-6
LNG Energy Group targeted by trade ban after delayed filing
The Ontario Securities Commission has imposed a trading suspension on LNG Energy Group due to the non-filing of its annual financial statements for fiscal year 2024.
en_1140290946540-6
NRG Energy acquires 25 GW of capacity in $12 billion deal
NRG Energy acquires energy assets from LS Power, including 18 natural gas power plants, to strengthen its portfolio amid expected growth in U.S. electricity demand.
en_1140290957540-6
NRG Energy acquires 25 GW of capacity in $12 billion deal
NRG Energy acquires energy assets from LS Power, including 18 natural gas power plants, to strengthen its portfolio amid expected growth in U.S. electricity demand.
en_1140290957540-6

Woodway Energy appoints Diaco Aviki as CEO to drive growth

Diaco Aviki succeeds Thomas King at the helm of Woodway Energy Infrastructure amid expansion of its natural gas infrastructure in Texas.
The European Union plans to ban all Russian gas imports by the end of 2027
Brussels announces a full exit from Russian gas by the end of 2027, despite a remaining 9% dependency and pressure on the global liquefied natural gas market.
en_1140290951540-2
The European Union plans to ban all Russian gas imports by the end of 2027
Brussels announces a full exit from Russian gas by the end of 2027, despite a remaining 9% dependency and pressure on the global liquefied natural gas market.
en_1140290951540-2
SiEnergy acquires EPCOR’s Texas gas business for $60mn
US-based SiEnergy strengthens its footprint around Houston by acquiring Hughes Gas Resources, an EPCOR subsidiary, for $60mn, expanding its natural gas asset portfolio.
en_1140290946540
SiEnergy acquires EPCOR’s Texas gas business for $60mn
US-based SiEnergy strengthens its footprint around Houston by acquiring Hughes Gas Resources, an EPCOR subsidiary, for $60mn, expanding its natural gas asset portfolio.
en_1140290946540
Commonwealth LNG signs 20-year deal with major Asian buyer
US-based Commonwealth LNG has secured a 20-year supply agreement for 1 million tonnes of LNG per year with a major Asian company, reinforcing the development of its Louisiana terminal.
en_1140290951540
Commonwealth LNG signs 20-year deal with major Asian buyer
US-based Commonwealth LNG has secured a 20-year supply agreement for 1 million tonnes of LNG per year with a major Asian company, reinforcing the development of its Louisiana terminal.
en_1140290951540

Natural gas demand in Southeast Asia to surpass oil and coal by 2050

Driven by economic growth and renewable energy limitations, natural gas consumption in Southeast Asia is expected to nearly double by 2050, according to Wood Mackenzie.
ExxonMobil signs gas exploration deal with Egypt for two offshore blocks
Egypt signed a memorandum with ExxonMobil to restart natural gas exploration in the Mediterranean on the Cairo and Masry blocks amid a sharp decline in domestic production.
en_1140290979540-2
ExxonMobil signs gas exploration deal with Egypt for two offshore blocks
Egypt signed a memorandum with ExxonMobil to restart natural gas exploration in the Mediterranean on the Cairo and Masry blocks amid a sharp decline in domestic production.
en_1140290979540-2
Golar signs 20-year deals in Argentina for two FLNG units totalling $13.7bn
Golar LNG finalised long-term charter agreements with Southern Energy S.A. for two FLNG units offshore Argentina, generating a projected order backlog of $13.7bn.
en_1140290980540-2
Golar signs 20-year deals in Argentina for two FLNG units totalling $13.7bn
Golar LNG finalised long-term charter agreements with Southern Energy S.A. for two FLNG units offshore Argentina, generating a projected order backlog of $13.7bn.
en_1140290980540-2
Up to 3.5 million m³ of gas redirected to Brazil’s spot market in 2025
Brazil's gas market shifts toward spot contracts, driven by pricing gaps and greater contractual flexibility for local distributors.
en_1140290980540
Up to 3.5 million m³ of gas redirected to Brazil’s spot market in 2025
Brazil's gas market shifts toward spot contracts, driven by pricing gaps and greater contractual flexibility for local distributors.
en_1140290980540

Naftogaz receives €270 million from EBRD to bolster gas reserves in Ukraine

Ukraine will receive a €270 million loan from the European Bank for Reconstruction and Development, backed by a Norwegian grant, to secure gas imports over two winters.
CH4 receives EXIM award for 300 MW gas-to-power project in Guyana
The natural gas-to-electricity project led by CH4 Systems with several partners has been recognised by the Export-Import Bank of the United States for its energy and economic impact in Guyana.
en_1140290943540-20
CH4 receives EXIM award for 300 MW gas-to-power project in Guyana
The natural gas-to-electricity project led by CH4 Systems with several partners has been recognised by the Export-Import Bank of the United States for its energy and economic impact in Guyana.
en_1140290943540-20
Subsea7 and SLB OneSubsea awarded EPCI contract by bp for Ginger in Trinidad and Tobago
Bp awards a contract valued between $150mn and $300mn to Subsea Integration Alliance to develop the offshore Ginger field under a new global framework agreement.
en_1140290947540-18
Subsea7 and SLB OneSubsea awarded EPCI contract by bp for Ginger in Trinidad and Tobago
Bp awards a contract valued between $150mn and $300mn to Subsea Integration Alliance to develop the offshore Ginger field under a new global framework agreement.
en_1140290947540-18
Oman signs 15-year deal with Amigo LNG to diversify LNG supply sources
OQ Trading has signed a long-term sales agreement with Amigo LNG in Mexico to purchase 0.6 million tonnes of liquefied natural gas annually, with deliveries scheduled to begin in 2028.
en_1140290952540-17
Oman signs 15-year deal with Amigo LNG to diversify LNG supply sources
OQ Trading has signed a long-term sales agreement with Amigo LNG in Mexico to purchase 0.6 million tonnes of liquefied natural gas annually, with deliveries scheduled to begin in 2028.
en_1140290952540-17

Woodside approves a $17.5bn investment for an LNG project in Louisiana

Woodside approves the development of a 16.5 Mtpa LNG facility in Louisiana, marking a key milestone in its global expansion strategy with production targeted for 2029.
JERA and Saibu Gas join forces to optimise the operation of the Hibiki LNG terminal
JERA and Saibu Gas have reached an agreement to jointly use the Hibiki LNG terminal to secure liquefied natural gas supply and support their global business development.
en_1140290958540-15
JERA and Saibu Gas join forces to optimise the operation of the Hibiki LNG terminal
JERA and Saibu Gas have reached an agreement to jointly use the Hibiki LNG terminal to secure liquefied natural gas supply and support their global business development.
en_1140290958540-15
Calpine entrusts ExxonMobil with storage of 2 million tonnes of CO2 per year
Calpine and ExxonMobil have signed an agreement to transport and store up to 2 million tonnes of CO2 per year from a natural gas power plant near Houston.
en_1140290951540-15
Calpine entrusts ExxonMobil with storage of 2 million tonnes of CO2 per year
Calpine and ExxonMobil have signed an agreement to transport and store up to 2 million tonnes of CO2 per year from a natural gas power plant near Houston.
en_1140290951540-15
Ecopetrol seeks partners after Shell’s withdrawal from gas projects
Ecopetrol is developing a strategy to ensure the continuity of its offshore gas projects in the Caribbean following Shell's strategic withdrawal.
en_1140290992540
Ecopetrol seeks partners after Shell’s withdrawal from gas projects
Ecopetrol is developing a strategy to ensure the continuity of its offshore gas projects in the Caribbean following Shell's strategic withdrawal.
en_1140290992540

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS