Israel's NewMed Energy is working to increase its natural gas output from the Leviathan offshore gas field, the company's chief executive said at an energy summit in Egypt Tuesday.
Speaking to a crowd at the Egyptian Energy Conference in Cairo (EGYPS 23), CEO Yossi Abu presented the plans for the expansion of Leviathan by his company, which is the largest stakeholder in the offshore gas project.
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NewMed Energy CEO Yossi Abu (second from left) speaking at the Egyptian Energy Conference in Cairo (EGYPS 23)
(Photo: NewMed Energy)
“We are currently working on increasing production from Leviathan through the installation of a third pipeline that will transmit gas to the platform, as well as completing expansion of the capacity of the EMG pipeline from 5 BCM to 8 BCM, to meet the soaring demand in the regional market," Abu told a panel on “The rise of gas and LNG – the global scramble in a tight market with soaring prices”.
"We are also working on the Nitzana pipeline – a new onshore connection between Israel and Egypt which will allow, within a few years, the flow of additional natural gas quantities from Israel to Egypt. We are seeing demand for additional LNG facilities in the region and are promoting the construction of an offshore liquefaction facility from Leviathan”.
Abu also stated that his company is committed to helping develop the Aphrodite reservoir, a Cypriot gas field that protrudes in part into Israel's exclusive economic zone and was in the heart of a years-long dispute between the Mediterranean neighbors over offshore spoils.
“We are committed to finding a way to develop the Aphrodite reservoir via the Egyptian infrastructure and the liquefaction facilities there. The Aphrodite reservoir will be used, in part, for the domestic market and in part for the export of LNG. Working with the existing infrastructure is the key to carrying gas to the various markets”.
During the conference, Dr. Magdy Galal, Chairman of EGAS, Egypt’s national gas company, stated that his country is determined to strengthen its collaboration with Israel and other countries in the Middle East in the trade, liquefaction, and marketing of natural gas.