Chevron Corp. is working to boost supply of natural gas to Egypt, which has “insatiable appetite” for the fuel, Freeman Shaheen, the company’s president for global gas, said.
“Egypt needs all the gas it can get,” Shaheen said in an interview in Milan, where industry executives and traders are gathering for the annual Gastech event.
Egypt turned into a major LNG importer last year after domestic gas output declined, contributing to a tightening of the global LNG market. If the nation keeps attracting cargoes for years, it’s likely to absorb some of the additional supply that’s expected to flood the market as new projects come online.
The nation added several floating LNG import terminals this year and imports so far this year are already double those in 2018, according to ship-tracking data compiled by Bloomberg. Around 2018 was the last time Egypt was an importer of LNG. It also receives piped gas from Israel, mainly produced by the major Leviathan field, operated by Chevron.
Chevron, which operated two gas fields in Israel that help feed Egypt’s demand, wants to supply the North African nation with more piped gas, Shaheen said. The US energy major is working on “more development in the country” and also is considering supplies of LNG to Egypt.
“We think there’s an opportunity for all those things,” he said.
Chevron is also moving ahead with plans to expand Leviathan and potentially use a floating LNG production solution there, Shaheen said, declining to elaborate. Floating LNG, or FLNG, plants are faster to install and more flexible.
The US company is looking at opportunities for FLNG globally, possibly Nigeria or Argentina, he said.
Chevron has already secured supplies of LNG from the US, having contracted 7 million tons of the fuel, Shaheen said.
(Bloomberg, September 9, 2025)
