NewMed Energy and Ratio Energies to Supply Gas to Israeli Power Plants
NewMed Energy LP and Ratio Energies have signed a 20-year gas supply agreement for two power plants in Israel, with initial volumes of 1.3 billion cubic meters annually. The deal, excluding Chevron, is expected to generate approximately $6.7 billion in revenue.
Theia Market Signal Identification - AI Assisted
NewMed Energy LP and Ratio Energies LP will supply natural gas from the Leviathan field to Dalia Energy's power plants under a 20-year contract. The initial delivery volume is around 1.3 billion cubic meters per year, with a planned increase to approximately 1.7 billion cubic meters annually starting between January and July 2035.
Each power plant will have a capacity of about 850 megawatts. The Leviathan field, operational since December 2019, is expected to increase production capacity to 21 billion cubic meters per year with the Phase 1B expansion, set to begin in late 2029.
The consortium aims to enhance gas exports, particularly to Egypt, which were recently approved to increase by 130 billion cubic meters. Future developments in gas infrastructure may affect regional energy dynamics significantly.
Comments