HOUSTON/LONDON: After years of focusing on U.S. shale, Chevron Corp is staking its natural gas future on the Middle East, a volatile and divided region where energy majors have long tread warily.
"There's not a lot of capital investment required in the near term," he said."At a time when cash flow matters, that's a very appealing attribute."The deal brings an alliance with Israel that has been smoothed by the narrowing of some historical rifts in the region, such as the establishment of formal ties between Israel and the United Arab Emirates in an agreement signed last month.
Syria and Yemen are riven by wars, with uncertain consequences for a wider region where archrivals Saudi Arabia and Iran are waging a proxy battle. European and Asian nations have been moving toward gas, solar and wind, and away from coal and nuclear power.
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