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Leviathan project partners in talks to supply gas to Israeli companies

Noble Energy and its partners at the Leviathan natural gas field in the Mediterranean Sea off the coast of Israel are reportedly holding talks to supply gas to companies in the region.

Leviathan site development is being led Noble Energy and Delek through its units Delek Drilling and Avner Oil and Gas.

Delek Group units mentioned in a statement to the Tel Aviv Stock Exchange that the companies seeking gas supplies from this offshore field were private electricity producers and industrial companies.

The latest disclosure follows approval of a deal by Israel Prime Minister Benjamin Netanyahu for the development of Leviathan gas field in December 2015.

Noble Energy was notified that the government implemented the natural gas framework under Section 52 of the restrictive trade practices act.

The framework will provide transparency for future domestic pricing in the country and also enables marketing of gas from the field to customers in Israel for the first time.

Expected to cost at least $6bn to develop, Leviathan is located 47km south-west of the Tamar gas field.

Tamar lies roughly 130km west of Haifa in waters 1,500m deep in the Levantine basin.

Leviathan has estimated reserves of 622 billion cubic metres and is expected to start production between 2018 and 2020.

The field is operated by Noble Energy with 40% interest. Other partners include Delek Drilling (22.67%), Avner (22.67%), and Ratio Oil Exploration (15%).

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