Tag Archive for Leviathan gas field

Israel’s Leviathan gas field reported 16% larger than previous estimate

Shares in Leviathan partner companies rallied Sunday in Tel Aviv trading upon release of report. Field worth $2.9 billion – $4.4 billion more.

By and Reuters


The size of natural gas reserves in Israel’s Leviathan offshore natural-gas field is 16.4% bigger than previously estimated, partners in the field said on Sunday.

Drilling platform of the Leviathan natural gas field.

Drilling platform of the Leviathan natural gas field. – Photo: Albatross

Based on an updated analysis by consultant Netherland Sewall & Associates, the reserves’ “best estimate” was increased to 21.93 trillion cubic feet (620 billion cubic meters) from 18.91 tcf. The high estimate was raised by 10% to 26.52 tcf, while the low estimate was increased by 11% to 16.58 tcf.

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Australia’s Woodside buys 25% of Israel’s largest gas well, the Leviathan


Australian energy firm to acquire 25% ownership of Israeli reservoir in $2.71 billion deal.


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 gas field - Albatross - 09012012

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.

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Israel considering gas-pipeline from Mediterranean Leviathan field to Turkey


Estimated $2 billion construction cost for pipeline is far cheaper option than building a $10 billion onshore facility for liquefied natural gas in Cyprus.

By Avi Bar-Eli



The key stakeholders in Israel’s Leviathan offshore natural gas field are to discuss laying an undersea pipeline from the Mediterranean site to the southern Turkish coast, according to the Turkish daily Hurriyet.

Leviathan gas field - Albatross - 09012012

A drilling rig in the Leviathan gas field in the Mediterranean.- Photo: Albatross

The paper reported over the weekend that Delek and the American company Noble Energy, which hold 85 percent of the rights to Leviathan, are to discuss construction of the pipeline with the companies Calik, Turcas, Enka and Zorlu.

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Israel signs $500 million natural gas export deal with Jordan


This is the1st export deal from the Tamar field off Israel’s coast, supplying natural gas over 15 years to 2 separate Jordanian companies.

By and Reuters


The partners in the Tamar natural gas field off Israel’s Mediterranean coast signed their first export deal, to sell at least $500 million of gas over 15 years to two Jordanian companies.


The platform at the Tamar offshore gas field. – Photo: Albatross

Under the agreement, Tamar will supply 66 billion cubic feet of gas a year to Arab Potash and its unit, Jordan Bromine – a joint venture with U.S.

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Israel’s Natural Gas Fields are Giving Putin Heartache


Israel’s gas find offers an opportunity for US interests by helping to secure Middle East peace & undercutting Putin’s pretensions in Europe & the East Mediterranean.

By Arthur Herman


If you think Vladimir Putin has enough worries on his plate dealing with the Sochi Olympics debacle, the turmoil in Ukraine and Russia’s sputtering economy, think again. A new potential source of trouble is brewing out in the eastern Mediterranean — one that could not only undermine Putin’s efforts to rebuild Russia’s influence in the Middle East, but his current strong hand in Europe.

Russian President Vladimir Putin - Photo: AP

Russian President Vladimir Putin – Photo: AP

The threat: Israel’s recently discovered offshore gas deposits — one of the biggest global finds of the past decade. Continue Reading »

Australia’s Woodside Petroleum to pay $2.5 billion to enter Israeli gas field

Aussie energy firm will pay more than it had originally offered to enter Israel’s Leviathan field, located 80 miles west of Haifa.



The Australian Woodside Petroleum company signed a $2.5 billion deal to enter the Leviathan gas field in offshore Israel.

A natural gas rig west of Haifa, Israel. - Photo: Albatross Aerial Perspective/AP

Leviathan holds 453 billion cu.m. of gas. – Photo: Albatross Aerial Perspective/AP

The owners of Leviathan were in Australia this week to try to finalize a year-old non-binding deal, worth up to $2.3 billion, The Australian daily reported.

Woodside will pay more than it had originally offered to enter the gas field because its owners want to pipe much of the gas to Turkey and other regional countries. Continue Reading »

NEW FIND: Nobel Oil reports another oil find for Israel

Israel’s Off-Shore Leviathan Oil Field May Contain 3 Billion Barrels of Oil.

A Noble analysts reported that drilling will not begin before the end of 2014.

By: Jewish Press News Briefs


Noble Energy now estimates that that its Leviathan oil field discovery in Israeli and Cypriot waters may contain up to 3 billion barrels of oil, double the previous estimate that did not include Block 12 off of Cyprus.


The same field also ready has been determined by Noble and its partner Delek to contain 19 trillion cubic feet of natural gas and another 4 trillion at Block 12. At today’s prices, the value of the potential oil field is nearly $3 billion. Continue Reading »

Lebanon Encroaches Into Israel’s Natural Gas Fields

The Lebanese gov’t is about to award offshore drilling licenses in areas that violates Israel’s exclusive economic zone.

By Gil Ronen


Lebanon is homing in on Israel’s territorial waters, according to a report in Globes.

Official Israeli sources told the newspaper that Lebanon is about to award offshore oil and gas exploration licenses in areas that encroach on Israel’s exclusive economic zone (EEZ).

Israel’s “Tamar” oil rig – Reuters

Lebanon published tenders for offshore oil and gas exploration licenses in early September, in five blocks in its EEZ.

It is a highly provocative act which has the potential to greatly inflame hostilities between the two nations. Continue Reading »