Leviathan partners, BG sign gas supply letter of intent

Noble Energy Inc. reported the signing of a nonbinding letter of intent (LOI) between partners in the Leviathan natural gas field offshore Israel and BG International Ltd. for the supply of gas from Leviathan to BG’s existing LNG facilities in Egypt.

The LOI contemplates a total gross sales quantity of as much as 3.75 tcf of gas over a 15-year period, or the equivalent of 700 MMcfd over the term. Delivery of the gas to BG is expected at the outlet of the Leviathan floating production, storage, and offloading vessel, with planned connection to the LNG facilities by way of subsea pipeline, Noble said.

A final gas purchase and sales agreement is to be negotiated and will be subject to the receipt of regulatory approvals in Israel and Egypt.

Noble operates Leviathan with 39.66% working interest. Other interest owners are Delek Drilling 22.67%, Avner Oil Exploration 22.67%, and Ratio Oil Exploration (1992) LP 15%. Leviathan field has an estimated 19 tcf of discovered gas resources.

Related Articles

KKR, Riverstone to form Barnett-focused Trinity River Energy

07/09/2014 Kohlberg Kravis Roberts & Co. LP (KKR) and Riverstone Holdings LLC have signed a definitive agreement to combine the existing assets held by KK...

Suncor, GE aim to reduce GHG emissions, water usage in oil sands

07/09/2014 Suncor Energy Inc., Calgary, and GE have signed two agreements that aim to reduce greenhouse gas (GHG) emissions and water usage in the oil sands.

MARKET WATCH: Oil prices continue down on London, New York markets

07/09/2014 Crude oil prices on the New York market dropped modestly on July 8, settling down for the seventh consecutive session while oil prices on the Londo...

EIA: Low-permeability formations driving Permian oil production surge

07/09/2014 Crude oil production in the Permian basin has increased to 1.35 million b/d in 2013 from 850,000 b/d in 2007. Since March 2013, the Permian basin h...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected