In a one-on-one interview with The Jerusalem Post's senior analyst Herb Keinon, Jeff Ewing, Managing Director of Chevron’s Eastern Mediterranean Business Unit, discussed his company’s “higher returns, lower carbon” strategy and the opportunities for growth of Israel’s natural gas sector as domestic, regional and global demand for natural gas increases. In October 2020, Chevron acquired Noble Energy and entered the Israeli energy market.
“We are excited to be in the energy industry in the eastern Mediterranean, especially in Israel,” said Ewing. “We see great opportunities to grow the natural gas business in the region, which is becoming even more important as natural gas is seen as a key transition in the low-carbon strategy for the environment.” He noted that natural gas currently comprises 22% of the world energy supply, and it will increase in the coming years. Ewing added that Chevron wants to diversify its portfolio and grow its position in the region.
Ewing stated that one of Chevron’s key values is partnership and said that Chevron can assist the State of Israel in helping it grow partnerships in the region.
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Ewing said that Chevron is very impressed with Israel’s technology sector and noted that technology has always been an important component of Chevron. “We are a hi-tech company, and we are always looking for new technologies to make us more efficient and safer.”
Chevron has created a venture capital fund whose goal is to search and invest in new technologies. Ewing said that Chevron has been actively working with companies in Israel and hopes to announce partnerships with Israeli companies in the near future. He added that Chevron is also pursuing incubator funding locally and wants to fund these technologies to develop new technologies, especially in new energy sources.
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