Post by Daniel on Aug 13, 2015 9:42:19 GMT -5
Israel announces deal on offshore gas development
Times of Israel staff August 13, 2015
Prime Minister Benjamin Netanyahu on Thursday announced a major deal between his government and a consortium including US firm Noble Energy on natural gas production in the Mediterranean Sea.
“The agreement will bring in hundreds of billions of shekels [tens of billions of dollars] to Israeli citizens over the coming years,” Netanyahu said in a televised statement, without providing details.
“I shall bring this agreement to the cabinet on Sunday. I’m sure it will pass by a large majority of votes.”
Negotiations have been underway with a consortium including Noble and locally based Delek Group, with talks involving natural gas pricing for Israeli reserves and future production.
Noble and Delek have been producing gas from the Tamar field off the Israeli coast since 2013. They have also teamed up to develop the offshore Leviathan field, considered the largest in the Mediterranean, by 2019.
The negotiations have been controversial in Israel, with critics fearing regulations would overly favor the companies involved.
continue reading
www.timesofisrael.com/israel-announces-deal-on-offshore-gas-development/
Times of Israel staff August 13, 2015
Prime Minister Benjamin Netanyahu on Thursday announced a major deal between his government and a consortium including US firm Noble Energy on natural gas production in the Mediterranean Sea.
“The agreement will bring in hundreds of billions of shekels [tens of billions of dollars] to Israeli citizens over the coming years,” Netanyahu said in a televised statement, without providing details.
“I shall bring this agreement to the cabinet on Sunday. I’m sure it will pass by a large majority of votes.”
Negotiations have been underway with a consortium including Noble and locally based Delek Group, with talks involving natural gas pricing for Israeli reserves and future production.
Noble and Delek have been producing gas from the Tamar field off the Israeli coast since 2013. They have also teamed up to develop the offshore Leviathan field, considered the largest in the Mediterranean, by 2019.
The negotiations have been controversial in Israel, with critics fearing regulations would overly favor the companies involved.
continue reading
www.timesofisrael.com/israel-announces-deal-on-offshore-gas-development/
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