Chevron sees East Med value
The major was attracted first by Noble’s gas assets. This could be promising for breaking the deadlock on the rocky road to monetising the region’s finds
The timeline of Chevron’s $5bn takeover offer for US independent Noble Energy makes for interesting reading, particularly for the nascent Eastern Mediterranean gas industry. The major’s announcement of the deal in July focused on both Israeli and US Permian and DJ basin assets, but an August SEC filing makes it clear that its interest was first in East Med gas. Chevron’s general manager for M&A, Frank Mount, first approached a Noble executive in October, the filing records, to say that it “had been monitoring Noble Energy’s progress in the Eastern Mediterranean”. Mount then “indicated that Chevron was contemplating entry into the upstream sector in Egypt and indicated potential interest
Also in this section
16 April 2025
Israel continues to strike new oil and gas concession agreements and gas exports continue to rise, but an overreliance on Egypt remains the big concern
15 April 2025
Loss of US shipments of key petrochemical feedstock could see Beijing look to Tehran with tariffs set to upend global LPG flows
15 April 2025
Australia’s East Coast Gas projections for a supply shortfall have been pushed further out, but the challenge to meet evolving gas demand and the shifting assumptions around the fundamentals remain just as stark
15 April 2025
Long-delayed prospects for onshore LNG production in Mozambique have improved thanks to US financing approval, but security challenges blight way ahead
