NewMed Energy and Ratio Energies signed a 20-year agreement to supply natural gas to Dalia Energy Companies Ltd. The contract will fuel two new combined-cycle gas turbine power plants currently under construction. Total revenue from the agreement is projected to reach approximately $6.7 billion.
The initial phase covers the supply of up to 1.3 billion cubic meters of gas per year. Annual volumes are scheduled to increase to approximately 1.7 billion cubic meters between 2034 and 2035.
Chevron operates the Leviathan gas field with a 39.66% ownership stake. This long-term contract reinforces the strategic importance of the Leviathan field for the Israeli domestic energy market.