{"id":88120,"date":"2025-08-11T00:00:00","date_gmt":"2025-08-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2025\/08\/11\/israel-to-more-than-double-leviathan-gas-exports-to-egypt\/"},"modified":"2025-08-11T00:00:00","modified_gmt":"2025-08-11T00:00:00","slug":"israel-to-more-than-double-leviathan-gas-exports-to-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2025\/08\/11\/israel-to-more-than-double-leviathan-gas-exports-to-egypt\/","title":{"rendered":"Israel to more than double Leviathan gas exports to Egypt"},"content":{"rendered":"

Chevron <\/strong>and its Israeli Leviathan partners NewMed Energy and Ratio <\/strong>Energies will send 130 bn cubic meters (bcm) of gas to Egypt between 2026 and 2040<\/strong>, under an inked amendment to their existing 2019 gas export agreement with Egypt\u2019s Blue Ocean Energy, according to a NewMed release (pdf)<\/a> on Thursday. The agreement is expected to bring in some USD 35 bn worth of gas over the 15-year period.<\/p>\n

Flows will first increase from 4.5 bcm in 2025 to 6.5 bcm as early <\/strong>as 2026 under the first 20 bcm phase of the agreement<\/strong>, according to the Israeli energy company\u2019s 2Q financial results presentation (pdf)<\/a>. Increased flows will follow the under-construction Ashdod-Ashkelon pipeline being connected to Egypt to enable the larger quantities.<\/p>\n

Following this, supplies will increase again to 11.5 bcm in 2029 under the <\/strong>second <\/strong>110 bcm phase<\/strong> of the agreement<\/strong>, then rise again to 12.5 bcm a year in 2033 before settling to 12.0 bcm a year from 2036 onwards. This exported gas increase is contingent on a final investment decision due 30 September \u2014 with the option to extend by six months \u2014 by Chevron and its partners to expand the field\u2019s capacity, and for operator Israel Natural Gas Lines to decide on capacity allocations for the planned Nitzana pipeline<\/a> to Egypt.<\/p>\n

The agreement puts the price of the piped gas considerably below the current market <\/strong>rates for LNG<\/strong>, with gas offtake from Blue Ocean Energy priced at around USD 7.60 per mn British thermal units (BTU), according to calculations by industry publication Middle East Economic Survey<\/a>. Despite being up from the previous unamended offtake agreement, this is nearly half of the USD 12-13 per mn BTU that the state is currently paying for LNG imports to bridge the supply gap. <\/p>\n

The amendments cancel Blue Ocean\u2019s right to reduce offtake volumes when Brent crude <\/strong>averages below USD 50\/bbl. <\/strong>The gas pricing remains Brent-linked but will now include a floor price, and a new pricing mechanism will be introduced for the second increment. If the parties fail to agree on price changes, they can cut volumes by up to 30% at each adjustment point. <\/p>\n

Blue Ocean is also now obligated to take-or-pay for the additional volumes under the new terms. <\/p>\n

REMEMBER- <\/strong>Rising demand at home and a fall in domestic supply have pushed Egypt to increasingly rely on LNG imports to keep the lights on and prevent a return to the days of planned outages. The Madbouly government has secured LNG supply through 2026<\/a> at a total estimated cost of USD 8 bn after signing agreements with six international energy companies, a government source in the energy sector previously told EnterpriseAM. <\/p>\n

The increased gas flows won\u2019t only help close the supply gap, but also help us realize <\/strong>LNG re-export ambitions<\/strong>, a senior source at Egypt\u2019s Oil Ministry told EnterpriseAM. Egypt will be able to become a regional energy hub by using its liquefaction plants to re-export the gas as LNG to Europe, using the planned increase in Israeli imports and the planned imports of Cypriot gas, they added.<\/p>\n

But Israeli imports aren\u2019t without risk<\/strong>, with imports prone to sudden halts<\/a> on the back of Israeli military action in the region, leading to the shutdown of exports several times this year, which ultimately cut supplies to key energy-intensive industries in the country. Public outrage over Israel\u2019s assault on Gaza and rising diplomatic tensions between Cairo and Tel Aviv also lend themselves to an uneasy partnership. <\/p>\n

The big-ticket agreement also caught the attention of the international business press<\/strong>, including the Financial Times<\/a>, Bloomberg<\/a>, and Reuters<\/a>.<\/p>\n

ALSO-<\/strong> The Egyptian General Petroleum Corporation has cancelled seven mazut <\/strong>shipments amounting to some 2.2 mn barrels<\/strong>, which had been scheduled to arrive this month, Asharq Business<\/a> reports, citing unnamed sources. The shipments, secured in June after Israel briefly halted supplies during its war with Iran, were then later cancelled due to the country having bridged its supply gap with LNG contracts and the resumption of Israeli gas imports.<\/p>\n","protected":false},"excerpt":{"rendered":"

Israeli revenues for the full additional volumes are estimated at USD 35 bn<\/p>\n","protected":false},"author":1,"featured_media":88121,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[41],"tags":[49,32],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88120","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trade","tag-egypt","tag-trade","wpautop","entry"],"acf":{"mongo_id":"a080fa6c-3fd4-446f-a161-631edd7cfb16","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/8\/613.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Israel to more than double Leviathan gas exports to Egypt","related_issue":[88115],"teaser":"Israeli revenues for the full additional volumes are estimated at USD 35 bn","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/8\/.a9896745-e598-4bf2-9972-d3a6d5c110c1.mp3"},"yoast_head":"\nIsrael to more than double Leviathan gas exports to Egypt - 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