Israel: Leviathan Plan Approved But Sales Still Needed

Both Egypt imports and LNG now look off the table.

US-firm Noble Energy and its Israeli partners the Delek Group and Ratio were given a boost on 2 June, receiving approval from the Israeli government for the development plan for their giant Leviathan offshore gas field.

Further hope that development could go ahead was given just two days earlier on 29 May when the partners signed a deal worth “in excess of $2.5bn” to supply 13 bcm of gas over 18 years on a take or pay contract with privately owned power firm IPM in Beer Tuvia, 60km to the west of Jerusalem.

The yet to be constructed 413MW power plant is due to supply consumers at the Beer Tuvia industrial zone. Any surplus electricity will be sent via the Israeli electricity company (IEC) grid to other consumers. (CONTINUED - 695 WORDS)