Development of Israel’s 22 tcf Leviathan gas field moved closer this week after the country’s government approved an amended gas outline.
The original outline included a ‘stability clause’ which would have guaranteed US operator Noble Energy and Israeli partner Delek unchanged development terms for at least 10 years (MEES, 1 April). Noble agreed to have the clause removed in order to get the remaining outline. It has accepted assurances that the government will not change the fiscal terms – though of course governments change. (CONTINUED - 390 WORDS)