Israel: Noble Plots ‘Near-Term’ Leviathan Go-Ahead, But More Sales Needed

US firm Noble Energy says that sanctioning of development of its 22 tcf 2010 Leviathan field offshore Israel is “on track for end 2016/early 2017.” The firm now says that it can sanction phase 1 of development based only on domestic sales, and a modest export deal to Jordan.

But given that domestic sales will cannibalize those of Noble’s existing Tamar field – Israel’s only current producer – a key export deal will be needed sooner or later. And it is difficult to see where this might come from.

Noble CEO Dave Stover, speaking on the company’s 16 November ‘longer-term outlook’ presentation says that he expects Leviathan’s “near-term” sanction to “more than double [the company’s] East Med gross capacity” to over 2.5bn cfd “by 2020.” (CONTINUED - 1072 WORDS)