Texas Energy Company Has A Great Stake In Israel-Turkey Gas Pipeline

March 3, 2017

The Houston-based energy company, Noble Energy, is a major investor in Israel’s current offshore natural oil Leviathan project, projected to produce by the end of 2019. Already, Noble's development of the offshore Tamar platform currently supplies 60% of Israeli power generation. In the Leviathan project, Noble is the only non-Israeli partner and holds the largest amount of stake in the project at 39.66%.

 

The offshore natural gas field is the largest natural gas reservoir discovered in Israeli territorial waters, and in fact one of the biggest natural gas discoveries in the world in the past decade. It is estimated that the amount of gas in Leviathan ranges between 500-620 cubic meters, representing an enormous example of Texas-Israel energy cooperation for generations to come.

 

An underwater pipeline connecting Israel's massive offshore gas field Leviathan to Turkey could be built within four years, one of the partners in the project said on Thursday.

Israel has been pursuing several regional export deals for its newfound gas reserves and the Leviathan group is moving ahead with development plans since making its final $3.75 billion investment decision last week.

 

Yossi Abu, chief executive of Delek Drilling and Avner Oil, said a new 500 km (300 mile) pipeline could have gas flowing to Turkey by the end of 2020, about a year after it comes online for the Israeli market.

 

[1] https://www.nblenergy.com/news-media

 

Sources:

http://www.businessinsider.com/r-israel-turkey-gas-pipeline-could-be-ready-in-four-years---company-2017-3

https://www.nblenergy.com/news-media

http://www.haaretz.com/israel-news/1.774036

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