Noble and Israeli energy company Delek Group’s subsidiaries, Delek Drilling and Avner Oil Exploration, entered into non-binding negotiations with Egypt’s non-governmental gas distributor Dolphius Holdings in November. A total of 4 bcm (141 bcf) of natural gas is expected to be supplied for 10-15 years.
The Leviathan is Israel’s largest gas reserve and will cost USD 6 billion to develop. The partners hope to produce 6 bcm (212 bcf) of gas to be supplied to Egypt and Jordan, as well as possibly Turkey and Europe. Production is scheduled to begin in 2018-2020. The field sits 130 km west of Haifa in the hydrocarbons-rich Levantine Basin in waters 1,500 metres deep.
Israeli Prime Minister Benjamin Netanyahu is considering a pipeline to transport gas to Europe through Greece, he said at a meeting with other government heads last Thursday. The project is expected to push Israel into competitive standing with neighbouring countries.
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