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Chevron to Pursue Israel Expansion as Part of Long-Term Gas Plan

NATURAL GAS

Chevron will continue efforts to expands natural gas production from Israel, despite the current conflict, as part of its long-term plans for gas development, according to Bloomberg.

  • “Ours is a long-term business. You have to be able to see through some of this,” Colin Parfitt, Chevron VP for Midstream said.
  • “There is gas there, there is gas in the Eastern Mediterranean, you look at the world demand for gas, you look at European demand for gas - it still feels an attractive place for gas to supply,” Parfitt added.
  • “We like the asset, and particularly Leviathan, which is one that has expansion. We see possibilities to expand it, and we are still figuring out what the best way to do it is,” Parfitt said.
  • Chevron sees a long-term future for gas, viewing medium term demand coming from Europe while long-term demand to come from Asia.
Energy BulletsCommodities
Energy BulletsCommodities

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