In addition to this, potential partners would also possibly help to explore for oil in the ultra-deep waters.
According to Reuters, natural gas exports began from the field in January, and are already being received by Israel, Egypt and Jordan. Reportedly, the group of companies that owns the field wants to increase production, and is aiming to make a final investment decision (FID) this year.
Yigal Landau, the CEO of Ratio Oil – a minority partner in Leviathan – reportedly told Reuters that the FLNG terminal would be crucial to any such progress, as it would float in the eastern Mediterranean and allow exports to Europe.
Landau said: “FLNG has an advantage in that you are not dependent on geopolitics. It gives export independence.”
According to Reuters, pipelines connected to northern Egyptian LNG plants are another option currently under consideration. Nonetheless, Ratio Oil, alongside its partners Delek Drilling and Noble Energy, are already holding talks with Golar LNG and Exmar to invest in and construct an FLNG terminal.
Landau commented: “Whoever is the best, cheapest and most fitting for us will be chosen. Then one of them will become a strategic partner in the project itself.”
Landau claims the terminal could be operating in just three years, but noted that firm contracts would need to be secured before investment.
Read the article online at: https://www.lngindustry.com/floating-lng/12022020/leviathan-gas-field-owners-consider-flng-unit/
You might also like
A Seapath and Pilot LNG joint venture will develop, construct, and operate a terminal in the Galveston Bay area supporting LNG-powered vessels.