The Leviathan partners on Monday said that the natural gas from the Leviathan field will be produced by the end of 2019.
Having assessed the development plan, the work plan and the proposed budget for the development of stage 1A of the development plan, with a capacity of 12 bcm per year, at a scope of US$3.5-4 billion, the board of directors of the general partner authorized the approval of the FID.
In its statement, Delek Group said that the development plan, work plan and budget has been approved and urged the approval of the final investment decision for the development of the Leviathan field as soon as possible, in order to facilitate the start of natural gas production by the end of 2019.
In June this year, the Israeli government approved the development of the Leviathan project.
Leviathan partners have already signed a number of supply deals with Israeli companies as well as countries in the region with the latest being signed at the beginning of December with Or Power Energies (Dalia) , an Israeli utility for the operation of its planned power station.
The Leviathan project is operated by Noble Energy with a 39.66 percent working interest, with other interest owners being Delek Drilling with 22.67 percent, Avner Oil Exploration with 22.67 percent, and Ratio Oil Exploration (1992) Limited Partnership with the remaining 15 percent.
LNG World News Staff