Amid months of uncertainty and lack of transparency surrounding Leviathan gas reservoir arrangements, Australian hydrocarbon firm Woodside is expected to sign a $2.71 billion agreement to acquire a 25-percent share of the field on Thursday evening.
Leviathan holds 453 billion cu.m. of gas [file] Photo: Courtesy of Albatross
The agreement will build upon a memorandum of understanding signed with the reservoir’s partners on February 7, which provided a framework for final negotiations, following months of uncertainty and anticipation surrounding the agreement. An original agreement in principle occurred among the parties in December 2012, which had called for Woodside to acquire a larger, 30% stake of the reservoir.
Israeli New Shekel Exchange Rate