Rise of Leviathan : A large metal structure in the sea near Israel. It’s tall and near windsurfing. This 200-foot-tall skyscraper controls and manages natural gas. Gas comes from ocean wells 70 miles offshore. Leviathan, a famous gas field, caused these extra things. Israel has too much natural gas for its pipelines.
Louisiana’s Jim Hebert. The American oil giant Chevron employs him. The station’s boss employs 120 people. He argues that gas storage has limits. Chevron has lots of gas near Europe. Russia’s brutal war in Ukraine makes this prize valuable. Russia, Europe’s main gas supplier, has reduced significantly. Russia attempted economic dominance using gas. Prices rose last year, prompting everyone to seek new energy sources.
Chevron’s Israeli operations are helping meet this need. Egypt receives gas from the firm. Egypt exports LNG to European ports. If Leviathan made more things and improved the pipelines between Israel and its neighbors, they could send out twice as much, enough to power the Netherlands. It would barely make up for Russia’s gas shortage.
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Gas was found in the massive Leviathan gas field. It made $2.5 billion last year and there’s more gas to find. Countries that fought each other are here. These countries’ interests and business connections change. Gas production and distribution are hard to improve. Chevron is talking to Israel, Egypt, and Cyprus energy businesses.
Chevron has permission to search for gas in three countries and wants to make this specific area the world’s largest oil producer.
Robert C. Neff Jr., Chevron’s international exploration and production president, adds, “We have a lot of natural resources in that area.” Gas is needed everywhere.
Countries covet these riches, yet they’re competing. Alex Munton, Rapidan Energy Group’s worldwide gas manager, argues this competition may not aid projects.
Chevron’s recent work in the gas-rich East Med has raised hopes. “They are really strong and can do really important stuff,” says Blue Ocean Energy CEO Alaa Arafa.