The partners in Israel’s huge Leviathan offshore gas field are struggling to pull together the finances for developing the field, delaying the consortium’s final investment decision.

Leviathan’s partners, Houston-based Noble Energy (39.66%) and Israeli firms, the Delek Group (45.34%) and Ratio Oil (15%) last month officially submitted a $6.5bn development plan for the field’s first development phase to Israel’s Energy Ministry. The plan involves a 1.6bn cfd floating production storage and offloading (FPSO) vessel that will be able to supply gas via pipeline to Israel, Egypt, Jordan, the Palestinian Authority (PA) and Cyprus (MEES, 5 September). (CONTINUED - 1160 WORDS)