Israeli gas plans move tentatively ahead
Geopolitics could harm Leviathan export prospects just as the signs are looking good
There are two distinct perspectives to the planned development of Israel's giant (22 trillion cubic feet of reserves) offshore Leviathan natural gasfield. From one side, signs today are that this huge gas find, discovered in December 2010, is finally on its way to monetisation. From the other perspective, the prospects look less promising. The optimism is on the Israeli side. In February, the Delek group, holder of a 45.34% share in the Leviathan project, announced that its subsidiaries Delek Drilling and Avner Oil Exploration had received loans from Israeli and international banks worth $1.75bn for their share in the cost of developing the field. Chief executive Yossi Abu said the financing
Also in this section
24 April 2024
But even planned exploration activity is unlikely to reverse declining output from mature fields
23 April 2024
Cheaper Russian barrels and lower overall crude prices have helped cut key oil consumer’s import bills in election year
22 April 2024
Pursuing three different goals as part of the same package may mean achieving none of them
22 April 2024
Beijing’s renewed targeting of NOC management could threaten investment