Leviathan Gas Reservoir Expansion Set to Boost Israel’s Energy Capacity
The Leviathan offshore natural gas reservoir in Israel is set for a major expansion, with a $429 million investment aimed at increasing production capacity from 12 BCM to 21 BCM annually. This strategic move addresses the rising demand for natural gas in the Israeli economy and supports regional energy activities. The expansion, driven by key partners including NewMed Energy and Chevron, will enhance Israel’s energy security and foster new export agreements, positioning the country as a significant player in the global energy market.
Venezuela Faces Natural Gas Crisis Ahead of Presidential Election
As Venezuela approaches its pivotal presidential election on July 28, the nation faces a significant challenge with its declining natural gas production, which has plummeted from 8 billion cubic feet per day in 2016 to just 4 bcfd this year. This crisis is affecting urban residents who are turning to makeshift cooking solutions, highlighting the urgent need for revitalization in the gas sector. The election outcome could determine the future of Venezuela’s energy landscape, impacting both domestic stability and regional energy security.
Paraguay Pursuing $1.5 Billion Gas Pipeline Project with Argentina and Brazil
Paraguay is in discussions with energy firms from Argentina and Brazil for a $1.5 billion gas pipeline project, aiming to rival Bolivia’s proposal. The initiative could reshape regional energy dynamics, with plans for a route spanning 110 kilometers from northern Argentina to the Paraguayan border. Brazilian Mines and Energy Minister, Alexandre Silveira, supports the project but calls for further feasibility studies.
Nigerian National Petroleum Company Engages in Discussions with South Korean Consortium for Gas Projects
The Nigerian National Petroleum Company Limited (NNPCL) has recently engaged in discussions with a South Korean consortium, led by Daewoo E & C, to explore opportunities for the development of gas projects in Nigeria. The talks, which took place in…
Study Raises Concerns Over Using Decommissioned Gas Field in Scotland for Hydrogen Storage
The potential for using a decommissioned gas field in Scotland as a major hydrogen store has been brought into question by a recent study conducted by the University of Aberdeen and the UK Onshore Geophysical Library (UKOGL). The study, led…
Southwestern Energy and Chesapeake Energy Merger
Southwestern Energy and Chesapeake Energy are on the verge of a merger that could create a company worth approximately $17 billion, positioning it as one of the largest natural-gas producers in the United States. Sources familiar with the situation have…