Tag Archive for Noble Energy

| January 2, 2020
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REPORT: Test-run of Israeli natural gas delivery reaches Jordan

The Petra news agency reported that Jordan’s National Electric Power Company received for the first time, natural gas from Israel’s Leviathan gas field, in a test to check the viability of the infrastructure prior to the pumping of NEPCO’s $10 billion import deal.

By TZVI JOFFRE

 

An experimental supply of natural gas from the Leviathan gas field was pumped to Jordan from Israel by the Noble Energy Company on Wednesday, according to Jordan’s Petra national news agency.

The experimental pumping will continue for three months and will test the infrastructure prior to the flow of the actual commercial supply, according to Jordan’s National Electric Power Company (NEPCO). Continue Reading »

Category: Israel News, Mid-East News | Tags: , , , , ,
| November 4, 2019
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Report: Israel-Egypt natural gas pipeline partnership a ‘done deal’

The partners in Israel’s Leviathan & Tamar offshore gas fields planned to sell $15 billion worth of natural gas to an Egyptian customer, Dolphinus Holdings, but last month 34% more gas was requested, now estimating the deal worth $20 billion.

By  Reuters, Israel Hayom Staff

 

A deal that would transfer control of a natural gas pipeline between Israel and Egypt is expected to be closed in the next few days, the companies said on Sunday.

Texas-based Noble Energy, Israel’s Delek Drilling and Egyptian East Gas Co have partnered in a venture called EMED, which last year agreed to buy a 39% stake in the subsea EMG pipeline for $518 million that will carry Israeli gas exports to Egypt. Continue Reading »

Category: Israel News, Mid-East News | Tags: , , , , , ,
| July 14, 2019
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1st of 4 barges transporting the Leviathan natural gas platform to Israel

The construction of a $7B, 2,000 km underwater pipeline connecting Israel’s gas fields to Cyprus, Greece and Italy is expected to be approved later this year by the 3 countries, but will also require European Commission approval.

By EYTAN HALON

 

The first of four giant barges transporting the Leviathan natural gas platform to Israel departed the Gulf of Mexico last week, the companies leading the project announced on Sunday, ahead of its September installation approximately 10 kilometers from Israel’s coast.

Five operational structures, the 38,000 ton topsides of the Leviathan platform, will make the approximately 11,500 kilometer cross-Atlantic journey, with the remaining barges due to set sail from Texas in the coming weeks. Continue Reading »

Category: Israel News | Tags: , , , , , ,
| September 30, 2018
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Israeli companies to pump gas to Egypt in $518 million deal

Israel’s Delek Group, Noble Energy are acquiring 40% of the Egypt-Israel gas pipeline with rights to operate it, enabling the Israeli companies to pump gas to Egypt as early as this year, assuming it will still be in demand.

By Lior Gutman

 

After several weeks of frantic negotiations, the Israeli drilling companies Delek Drilling LP, Noble Energy Inc., and the Egyptian East Gas Co. signed a deal to buy a 39% stake in the EMG pipeline to export natural gas to Egypt starting next year, the partners said on Thursday.

Israel’s Energy Minister Steinitz said the deal marked a ‘very important milestone’

Talks about a future Israeli-Egyptian gas deal were reported a few months ago by Calcalist. Continue Reading »

Category: Israel News | Tags: , , , , , , ,
| February 25, 2018
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Egyptian President: “We scored a big goal” in $15B gas deal made with Israel

Egyptian President al-Sissi praised the $15 billion natural gas arrangement with an Israeli energy company that will facilitate Egypt’s move into a regional energy hub with the purchase of 64b m³ of gas to Egypt’s Dolphinus Holdings over 10 years.

By The Associated Press

 

The Egyptian president declared that his country “scored a goal” by signing a $15 billion deal with an Israeli company to supply natural gas that will help turn Egypt into a regional energy hub.President Abdel Fatah al-Sissi’s televised remarks were the first high-level comments on the deal that fueled controversy on social media.

The project “has a lot of advantages for us (Egyptians). Continue Reading »

Category: Israel News | Tags: , , , , ,
| May 24, 2016
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Israel’s economy strengthening with development of energy sector

 

Israel’s geopolitical decision of exploiting the gas discovery for diplomatic purposes improved the geostrategic status of the State of Israel in the US, Europe & the Mid-East.

By MICHELLE MALKA GROSSMAN

 

Israel’s natural gas discoveries could be key in transforming diplomatic relations in the region while boosting its growing economy, a number of experts said on Monday at the Jerusalem Post Annual Conference in New York.

THE TAMAR gas field platform juts above the Mediterranean – Photo: MARC ISRAEL SELLEM

At the conference’s panel on the Israeli economy, International economic law scholar and practitioner Efraim Chalamish said Israel’s energy sector has the potential to really advance the “start-up nation” since it allows for large companies to be part of the economy, employing large workforces made up of people diverse backgrounds and skill levels. Continue Reading »

Category: Israel News | Tags: , , , ,
| March 2, 2015
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WATCH: Israel’s Natural Gas Revenues Begin Flowing , but Still ‘Drop in the Bucket’

Israel coffers took in NIS 744 million ($188 million) in 2014 royalties for offshore gas fields, a 39% increase over 2013, but far short from the NIS 3.2-3.4 billion expected in a few years.

By Yaakov Levi

 

Israel took in NIS 744 million ($188 million) in royalties for offshore gas fields – a 39% increase over the year before. That, however, is a drop in the bucket compared to the NIS 3.2-3.4 billion (about $750 million) expected by 2019, the Energy and Water Ministry said Sunday.

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

The 2013 and 2014 royalties came mostly from the Tamar and Yam Thetis gas fields. Continue Reading »

Category: Israel News | Tags: , , , , , ,
| January 8, 2015
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Israel’s new regulations on natural resources discourage potential investors

 

Foreign mining & exploration firms are holding back investment capitol following new rules set by Israeli authorities meant to increase competition, bringing prices down.

By Reuters & Israel Hayom Staff

 

New regulation of Israel’s natural gas and mining industries aimed at increasing competition to bring down prices is scaring off investors and putting billions of dollars at risk.

Tougher regulation may see foreign investors suspend deals [Illustrative] – Photo: Albatross

The rules, introduced over five years for many sectors but hitting natural resource companies particularly hard, allow the break up of powerful conglomerates that dominate Israel’s economy, with the goal of reducing high living costs, a major voter complaint ahead of the March 17 elections.

Continue Reading »
Category: Israel News | Tags: , ,
| September 3, 2014
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Israel & Jordan Sign Natural Gas Deal for 15 Years

 

Noble Energy announced on Wednesday afternoon, that if the signed letter of intent progresses into a full-fledged deal, the Leviathan partners would likely deliver the gas supply across a border location between Israel & Jordan,

The 621-billion cubic meter Leviathan gas reservoir, off of Haifa, is expected to begin flowing in 2017.

On behalf of the Leviathan natural gas reservoir partners, Noble Energy signed a non-binding letter of intent on Wednesday to supply about 45 billion cubic meters natural gas to Jordan’s National Electric Power Company over a 15-year period.

Oil Platform

Oil Platform. – Photo: INGIMAGE / ASAP

If the letter of intent progresses into a full-fledged deal, the Leviathan partners would likely deliver the gas supply across a border location between Israel and Jordan, Noble Energy announced on Wednesday afternoon. Continue Reading »

Category: Israel News | Tags: , , ,
| March 27, 2014
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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.

By SHARON UDASIN

 

 
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.

Continue Reading »
Category: Israel News | Tags: , , , , , , ,
| February 20, 2014
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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.

Tamar

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.

Continue Reading »
Category: Israel News | Tags: , , ,
| January 6, 2014
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Leviathan gas partners sign 1st gas export agreement with Palestinian power company

 

The partners managing Israel’s large natural gas reservoir have signed a $1.2 billion agreement to supply the Palestine Power Generation Company.

By SHARON UDASIN

 

 

 

The drilling partners behind Israel’s large Leviathan gas reservoir have sealed their first export deal for the basin – a $1.2 billion sales agreement with the Palestine Power Generation Company.

Officials from Delek and the Palestinian Authority - Photo: Chen Galili

Officials from Delek and the Palestinian Authority – Photo: Chen Galili

According to the agreement, signed at the American Colony Hotel in Jerusalem on Sunday, PPGC will buy around 4.75 billion cubic meters of gas for a period of 20 years, to fuel a future power plant in Jenin with a 200-megawatt capacity. Continue Reading »

Category: Israel News | Tags: , , , , ,
| December 18, 2013
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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.

mapworking_HWeb

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 »

Category: Israel News | Tags: , ,
| September 30, 2013
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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 »

Category: Mid-East News | Tags: , , , ,
| August 20, 2013
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US Naval Analyst: Mideast Gas a Chance for US to Break from Turkey

The newly drilled natural gas fields in the Mediterranean provide the U.S. with an opportunity to break with Turkey, whose adoption of a hostile neo-Ottoman ideology to guide it in the 21st century, worries them.

By Elad Benari

 

The natural gas fields in the Mediterranean provide the United States with an opportunity to break with Turkey, according to Seth Cropsey, formerly the deputy undersecretary of the Navy in the Reagan and George H. W. Bush administrations.

“Politics and alliances in the eastern Mediterranean are shifting, and the region’s security framework is splintering,” Cropsey wrote Monday in PJ Media. “The region is now divided as much within the Muslim world as between it and the non-Muslim states.” Continue Reading »

Category: Mid-East News | Tags: , , , , ,