Leviathan gas field start date approved

13 Dec 2016   Israel

Partners behind one of the larger natural gas fields off the coast of Israel unveiled plans to start formal production operations in roughly three years. Delek Drilling Ltd. and Avner Oil Exploration Ltd. said their boards have approved a development plan for the Leviathan natural gas field. Delek CEO Asaf Bartfeld said the agreement “will allow us meet the group’s target of first gas from Leviathan to the Israeli market and to countries in the region by the end of 2019.” A work plan for the first stage of development calls for about 1.2 billion cubic feet of natural gas per day through an investment of between $3.5 billion and $4 billion. Delek this year was forced to defend its development plans for Leviathan after a report from the Israeli government said that, after a review from independent analysts, the field could […]

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