Chevron’s Eastern Mediterranean Director addresses the Energy Convention

Addressing the Energy and Business Convention in Ramat Gan, Jeff Ewing, Managing Director of Chevron’s Eastern Mediterranean Business Unit at Chevron, said Chevron believes the future of energy is low-carbon.

He explained that Chevron’s low-carbon strategy involves reducing the carbon intensity of its traditional oil and gas business, using renewable energy and offsets to support the company’s operations, and investing in fast-growing businesses with low carbon emissions.

Chevron has increased its low-carbon capital investments, Ewing said, adding that it expects to spend more than $ 10 billion between now and 2028 to reduce its carbon emissions and build new low-carbon businesses. The company will continue to reduce the carbon intensity of its operations, focusing on methane management, flaring reduction and energy management.

“Our strategy is to combine our traditional high-performance oil and gas business, in which we focus on reducing emissions, and combine it with faster-growing lower-carbon businesses that leverage our capabilities, assets and customer relationships. Ewing said.

Ewing added that Chevron’s position in the eastern Mediterranean has made it a major player in the region.

A Chevron gas station sign is seen in Del Mar, California, on April 25, 2013. (Credit: REUTERS / MIKE BLAKE / FILE PHOTO)

Seventy percent of Israel’s electricity production comes from gas from Chevron’s Tamar and Leviathan fields.

Ewing noted that Chevron’s gas exports to neighboring countries help build relationships in the region and said Chevron wants to increase gas production and increase exports in the region.

“Gas is part of the history of the energy transition,” he said. “In Israel, the replacement of coal with natural gas for power generation has already made a notable difference to Israel’s air quality.” Ewing praised Chevron’s Israeli workforce, saying that “it is our talented people in the eastern Mediterranean that will enable us to achieve our business goals and objectives and ultimately reach our full potential.”

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