New Year Should Shed Light on East Med Gas Play

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  • Chevron is expected to make a decision in early 2022 about how to proceed with a second phase of development at the 22 trillion cubic foot Leviathan gas field offshore Israel. This is likely to be combined with plans for the development of its 2 Tcf to 4 Tcf Aphrodite gas discovery offshore Cyprus.
  • Estimates of the gas resources offshore Cyprus could get a boost before the end of 2021 as Exxon Mobil and QatarEnergy conduct appraisal work in Block 10, where their Glaucus discovery is estimated to hold 5 Tcf to 8 Tcf.
  • New gas discoveries could be made in the East Mediterranean in 2022, possibly including another game changer like Eni's 30 Tcf Zohr find offshore Egypt in 2015. Exxon, Chevron, Royal Dutch Shell and TotalEnergies are all expected to drill gas prospects this coming year.

Decision Time for Chevron

Topics:
LNG Supply, Gas Demand, Gas Pipelines, Gas Supply, Offshore Oil and Gas, Gas Prices
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