DKDRF - Chevron Israeli partners to boost capacity for sending gas to Egypt

Chevron ([[CVX]] +2.6%) and its partners in developing the Leviathan and Tamar natural gas fields offshore Israel say they plan to invest $235M in pipelines to export the fuel to Egypt.The companies signed an agreement to lay a new subsea pipeline and expand some of its existing ones, according to a statement from Delek Drilling (DKDRF), a shareholder in both reservoirs.Along with the expansion of other lines, the new pipeline will enable the partners to send as much as 7B cm/year of gas to Egypt, Delek says.The partners previously agreed to export 44B cm of gas to Egypt over eight years, with flows to begin between July 2022 and April 2023.Chevron is the operator of both fields, and holds a 39.7% stake in Leviathan and 32.5% of Tamar, while Delek Drilling owns 45.3% of Leviathan and 22% in Tamar.

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Chevron, Israeli partners to boost capacity for sending gas to Egypt