Noble Energy, Delek Group and Ration Oil Exploration have announced FID on phase one of the Leviathan project offshore Israel. The giant gas field was the largest discovery globally in 2010. After many years of delays cause by regulatory set-backs, the project partners have finally managed to set the development in motion. More than half of project's 1.2 bcfd capacity has yet to be sold, but the partners have opportunistically chosen to push ahead at a time of low industry costs. When production ramps up in 2020, Israel will become an important regional gas exporter.
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New gas sales agreements (GSAs) would add huge value