As the ongoing Israel-Gaza war in the Middle East continues to rage unabated while spreading to encircle other territories in the region, Chevron Mediterranean, a subsidiary of the U.S.-headquartered Chevron, has postponed its planned work on a giant natural gas field expansion project off the coast of Israel.
The decision comes two months after the U.S. oil major and its Leviathan partners , NewMed Energy and Ratio Energies , approved a $429 million investment to fire the starting gun on the front-end engineering design (FEED) phase for the proposed gas export capacity boost from the Leviathan field in the Mediterranean up to 21 billion cubic meters of gas (bcm) per year. The operator was even contemplating the addition of a fourth subsea transmission pipeline to the project’s underwater infrastructure.