CHEVRON'S DIVISIVE STRATEGY RAISES EYEBROWS IN CYPRUS-ISRAEL GAS PROJECTS

Nicosia – Chevron's recent moves in the Eastern Mediterranean have drawn attention from industry watchers, hinting at a divide-and-rule strategy that could reshape the dynamics of gas development in the region.

Contrary to the narrative of regional collaboration, Chevron’s actions appear to be underplaying potential joint development opportunities. Despite the inherent benefits of coordinated development between Cyprus and Israel, the energy giant has meticulously charted separate paths for projects in each country.

Distinct Separation

The ongoing Leviathan project in Israel, which boasts considerable prospects and its planned expansion, conspicuously excludes Cyprus from its development blueprint. This is especially intriguing considering Chevron's dual role as the operator of both the Leviathan and Cypriot fields.

Chevron's formal proposals to Nicosia are striking in their exclusivity. They have ardently sidestepped the idea of joint ventures with Leviathan gas, a move that some insiders believe is a tactful “divide and rule” strategy. This approach could be aimed at maximizing benefits from regional excess gas while avoiding any perceived complexities of joint operations.