[에너지신문] 21 December 2015 - The government of Israel has implemented its Natural Gas Framework, which resolves and provides exemption from claims of the Anti-trust Authority with respect to the Leviathan Joint Venture partners' acquisition of petroleum rights in the underlying permits.

The Natural Gas Framework gives approval to the development of both the Tamar expansion and Leviathan gas fields, establishing regulatory certainty and stability and providing transparency for future domestic pricing and natural gas competition in Israel.

Noble Energy has continued to move forward with development of Leviathan and the Tamar expansion by advancing technical work and negotiating gas sales agreements, and is updating and finalizing capital investment requirements. Final investment decisions (FIDs) for each project is currently estimated to be taken before the end of 2016.

Delek and Noble Energy are partners in the development of two giant gas fields discovered in the eastern Mediterranean sea, namely Leviathan (39.66% Noble Energy, 22.67% Delek) discovered in 2010 and estimated to hold 620 bcm of gas reserves and Tamar (36% Noble Energy and 15.6% Delek) discovered in 2009 and estimated to hold 280 bcm of gas reserves. In February 2015, the Israeli government proposed to break up the consortium operating the Leviathan gas field, considering that the partnership between Noble Energy (United States) and Delek group (Israel) might constitute a monopoly in the gas sector and that the companies would have to sell some acreage. That proposal was withdrawn in May 2015.

-http://www.enerdata.net/enerdatauk/press-and-publication/energy-news-001/israel-approves-new-gas-framework-and-offshore-fields-development_35462.html

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