Israeli gas plans move tentatively ahead
Geopolitics could harm Leviathan export prospects just as the signs are looking good
There are two distinct perspectives to the planned development of Israel's giant (22 trillion cubic feet of reserves) offshore Leviathan natural gasfield. From one side, signs today are that this huge gas find, discovered in December 2010, is finally on its way to monetisation. From the other perspective, the prospects look less promising. The optimism is on the Israeli side. In February, the Delek group, holder of a 45.34% share in the Leviathan project, announced that its subsidiaries Delek Drilling and Avner Oil Exploration had received loans from Israeli and international banks worth $1.75bn for their share in the cost of developing the field. Chief executive Yossi Abu said the financing
Also in this section
14 May 2024
But there is still plenty of appetite for the country’s LNG in the Asia-Pacific region
14 May 2024
The former CEO of Pioneer, Scott Sheffield, has opened a can of worms through his association with OPEC+ and its market management strategy
13 May 2024
OPEC+ has huge amounts of spare capacity amid a tightening market, but nothing can be taken for granted given unclear economic trajectories and geopolitical unrest
13 May 2024
But optimism about island nation checked by competition around African upstream investment and history of false dawns