Israel's NewMed gas group to build facility in East Med

The move comes as Israel is seeking to export more gas to Europe.
A view of the platform of the Leviathan natural gas field in the Mediterranean Sea is pictured from the northern coastal beach of Nasholim, Israel, Aug. 29, 2022.
A view of the platform of the Leviathan natural gas field in the Mediterranean Sea is pictured from the northern coastal beach of Nasholim, Israel, Aug. 29, 2022. - JAck Guez/AFP via Getty Images
Al Monitor: The Pulse of the Middle East
Al-Monitor Staff

Israel’s NewMed Energy announced on Tuesday plans to boost gas exports to global markets from the Leviathan field in the eastern Mediterranean. 

The company said it wants to construct along with its partners a floating liquified natural gas facility with an annual production of 4.6 tons of liquified natural gas. The purpose of the facility will be to boost gas sales to “global markets” as well as to Israel’s domestic supply, according to the letter NewMed Energy sent to the Israel Securities Authority and the Tel Aviv Stock Exchange. 

Access the Middle East news and analysis you can trust

Join our community of Middle East readers to experience all of Al-Monitor, including 24/7 news, analyses, memos, reports and newsletters.

Subscribe

Only $100 per year.

Videos

See more