LONDON, Nov 5 (Reuters) - Chevron ( CVX ) is nearing a

final investment decision for a potential capacity expansion of

the Leviathan gas field off Israel's Mediterranean coast, it

said on Wednesday.

In August, partners in the Leviathan natural gas field

signed the largest export agreement in Israel's history, worth

up to $35 billion, to supply gas to Egypt, mainly via new

pipelines, Chevron's ( CVX ) partner in the field NewMed said.

The deal would ease an energy crisis in Egypt, which has

spent billions of dollars on importing liquefied natural gas

since its own supplies fell short of demand.

Under the expansion, Leviathan, which has reserves of some

600 billion cubic metres, will sell about 130 bcm of gas to

Egypt through 2040, or until all of the contract quantities are

fulfilled.

Leviathan's expansion, which would cost around $2.4 billion,

should allow for production and supplies within Israel and to

its neighbours through 2064, NewMed said.

Chevron ( CVX ) holds 40% of Leviathan and is the field's operator.

Tel Aviv-listed NewMed holds around 45% of the

project, and Ratio 15%.