Exxon Eyes Israel’s Leviathan

US major ExxonMobil is considering farming-in to Israel’s largest to-date gas discovery, the 22tcf Leviathan field, according to Bloomberg. The firm is considering building a floating liquefied natural gas (FLNG) plant as part of the field’s further development.

The field, operated by fellow US firm Noble Energy is due for start-up in Q4 this year ( MEES, 5 April ). Australian LNG experts Woodside pulled out of a 2015 deal to take a 25% stake in the field with FLNG very much mooted as the preferred option at the time ( MEES, 23 May 2014 ). Exxon’s entry would signal that Israel is on majors’ investment radar: hitherto they have steered clear for fear of alienating oil and gas rich Arab countries. The US major also paid $50,000 for data packages in Israel’s most recent bid round ( MEES, 15 March ). (CONTINUED - 225 WORDS)