Chevron and partners approve $2.36 billion Leviathan gas expansion in Israel

Chevron and its Leviathan partners took a final investment decision on a gas production expansion at the Israeli field, announced on Friday 16 January 2026. The first stage adds three production wells, subsea systems and platform handling capacity, lifting annual gas output capacity from about 12 bcm to about 21 bcm. The partners hope to start the extra gas in the second half of 2029, so the project adds no near-term volume.

• Investment: $2.36 billion (Globes)
• Output capacity: about 12 bcm per year today, rising to about 21 bcm
• Start: second half of 2029, hoped-for timing
• Partners: Chevron, NewMed Energy and Ratio Energies