The Leviathan Partners and Dolphinus have signed a letter of intent to move ahead with finalising the supply of natural gas from Israel’s Leviathan offshore field to Egypt.
Partners in the Leviathan project are Noble Energy Mediterranean with a 39.660% interest, Avner Oil Exploration with 22.670%, Delek Drilling with 22.670%, and Ratio Oil Exploration with 15%.
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Under the agreement, four billion cubic metres (BCM) of gas will be supplied per annum for a period of ten to 15 years.
The companies intend for the natural gas to be transported using Israel Natural Gas Lines’ (Natgaz) transmission system to Ashkelon.
From there, it will be transported to the local market in Egypt using the existing gas pipeline operated by East Mediterranean Gas (EMG).
If signed, the agreement will be subject to several contingent conditions, including approval of the development plan for the Leviathan field and final investment decision (FID) by Leviathan Partners.
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By GlobalDataIn September 2015, the US-based Noble Energy requested the Israeli Government speed-up regulatory approval for Tamar and Leviathan fields in the Mediterranean Sea.
The Leviathan gas field is located 130km west of Haifa in a water depth of 1,500m in the Levantine basin, while Tamar is in Israel’s exclusive economic zone, roughly 80km west of Haifa at depths of 1,700m.
With the development of Tamar and Leviathan gas field, Israel is set to emerge as a major energy provider in the Middle East.
