Leviathan Advances

The partners in Israel’s 22 tcf Leviathan offshore gas field announced this week that they have reached final investment decision (FID), six and a half years after discovery.

US operator Noble had appeared to be stalling on the decision until it had shored-up a crucial export deal with Jordan, to supply the kingdom with 45 bcm of gas over 15 years.

But though this has still not happened, Noble (39.66%) appears to have bowed under pressure from its Israeli partners Delek (45.34%) and Ratio (15%), both of whom internally approved go-ahead late last year, as well as from the Israeli authorities who see development as key to future supply security. (CONTINUED - 365 WORDS)