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Plans For FLNG At Leviathan Gas Field Progress

LNG

Partners in the Leviathan gas field in the eastern Mediterranean have approved around $100mn of spending on preparation for expansion that includes a floating LNG terminal off the coast of Israel, the companies said.

  • "The development plan will enable a significant increase in production to 21bcm a year," said Yigal Landau, CEO of Ratio Energies. The current production capacity is 9bcm.
  • The floating facility is expected to have an annual capacity of about 4.6mn tonnes of LNG, or 6.5 bcm, NewMed said.
  • Last year Israel, Egypt and the European Union signed a memorandum of understanding for Israeli gas to be sent to Europe through LNG plants in Egypt.
  • It will take about three years from a final investment decision before the extra gas begins flowing to Egyptian LNG plants and the local market, said an industry source familiar with the project. The floating LNG component will come online after that.

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