Leviathan Development Gathers Pace As Partners Sign Third Sales Deal

Development of Israel’s largest offshore gas field, the aptly named 22 tcf Leviathan, received a boost this week after the field’s partners signed their second major provisional export deal in three months.

Jordan’s National Electric Power Company (NEPCO) will take a “base gross quantity” of 1.6 tcf of gas over 15 years. In June the partners signed another non-binding letter of intent (LOI) with BG to supply the UK firms LNG liquefaction plant in Idku in Egypt with 3.75 tcf of gas over 15 years (MEES, 4 July).

This latest deal, signed with NEPCO on 3 September, could be worth $15bn according to the Israeli press while the field’s operator, Houston-based Noble Energy, says “sales volumes under the agreement are anticipated to begin at a rate of 300mn cfd.” Jordan would receive gas shortly after Leviathan comes online in either late-2017 or early-2018. Noble, which has a 39.66% stake in the field, says “delivery of natural gas is expected to occur at a border location between Israel and Jordan.” (CONTINUED - 889 WORDS)


table Leviathan Gas Sales Deals