The partners in Israel’s Leviathan natural gas field have reportedly signed a $3bn deal to supply gas to IPM power plant in Be’er Tuviya near Ashdod.

Leviathan is located in the Mediterranean Sea off the coast of Israel and discovered in 2010. It is estimated to have 622m³ of natural gas reserves.

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The offshore field is expected to become operational in 2019.

Partners in the field are Avner Oil and Gas (22.67%), Delek Drilling (22.67%), Ratio Oil Exploration (15%) and Noble Energy (39.66%).

"The Leviathan site is expected to cost more than $5bn to develop."

Under the agreement, up to 13 billion cubic metres of gas will be supplied for 18 years to the power plant, which will be owned by Israel Power Management and Triple-M Power Stations.

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The contract comes a week after Israel’s Government approved a revised deal, which was aimed at advancing development of the field.

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The Leviathan site is expected to cost more than $5bn to develop, Reuters reported.

Noble Energy business development manager Niv Sarne was quoted by the news agency as saying: "This deal is an important milestone, in that it establishes another domestic contract that, together with additional domestic and export contracts, are essential for the quick development of Leviathan."

In January, Israel Edeltech and its Turkish partner Zorlu Enerji signed a contract worth $1.3bn to use gas from Leviathan at the Tamar power plant.