LONDON, Nov 5 (Reuters) - Chevron (CVX.N) , opens new tab is nearing a final investment decision for a potential capacity expansion of the Leviathan gas field off Israel's Mediterranean coast, it said on Wednesday.

In August, partners in the Leviathan natural gas field signed the largest export agreement in Israel's history, worth up to $35 billion, to supply gas to Egypt, mainly via new pipelines, Chevron's partner in the field NewMed said.

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The deal would ease an energy crisis in Egypt, which has spent billions of dollars on importing liquefied natural gas since its own supplies fell short of demand.

Under the expansion, Leviathan, which has reserves of some 600 billion cubic metres, will sell about 130 bcm of gas to Egypt through 2040, or until all of the contract quantities are fulfilled.

Leviathan's expansion, which would cost around $2.4 billion, should allow for production and supplies within Israel and to its neighbours through 2064, NewMed said.

Chevron holds 40% of Leviathan and is the field's operator. Tel Aviv-listed NewMed (NWMDp.TA) , opens new tab holds around 45% of the project, and Ratio 15%.

https://www.reuters.com/business/energy/chevron-nears-final-green-light-expansion-israeli-leviathan-gas-field-2025-11-05/