Israel’s supreme court this week failed to approve a gas outline necessary to begin the development of the country’s biggest offshore gas field, 22 tcf Leviathan. US operator Noble may see this as a blessing in disguise, allowing it to stall on multi-billion dollar development until gas prices rebound.

The court on 27 March ruled that a ‘stability clause’ in the gas framework agreement signed by Noble, Israeli partner Delek and the government is unconstitutional. (CONTINUED - 1078 WORDS)