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Texas-based Noble Energy, operator of Israel’s flagship 22 tcf Leviathan offshore gas development, says it has “up to 525mn cfd” of gas sales deal in place, with “pretty clear line of sight” on getting to the 1bn cfd total on which Phase 1 development is based.
Both figures look questionable. The 525mn cfd figure is substantially higher than the 455mn cfd (as averaged over the duration of the respective contracts) implied by individual deal announcements (see table and MEES, 6 January).
A Noble spokesman tells MEES that the difference is largely accounted for by an expected hike from 290mn cfd to 350mn cfd in the volumes to be supplied to Jordan’s state power company. As this is not only by far the largest of the current ‘deals’ but also the shakiest, this hardly inspires confidence. (CONTINUED - 1883 WORDS)
DATA INSIDE THIS ARTICLE
|table||Leviathan Gas Sales Deals|
|chart||Tamar Posts Record 1q17 Output|
|chart||Leviathan Stakes & Development Costs|