Israel to supply Jordan natural gas in deal worth ‘$15 billion’
Israel is to supply Jordan with natural gas from its vast Leviathan offshore gas field over a period of 15 years
Israel is to supply Jordan with natural gas from its vast Leviathan offshore gas field over a period of 15 years, U.S. giant Noble Energy announced Wednesday.
A source close to the deal said it was worth $15 billion (11.4 billion euros) – a significant chunk of some $60 billion which Prime Minister Benjamin Netanyahu has said will come from Israel’s offshore gas exports.
Noble announced in a statement the “execution of a non-binding letter of intent to supply natural gas from the Leviathan field, offshore Israel , to the National Electric Power Company Ltd (NEPCO) of Jordan.”
“Noble Energy and the Leviathan partners will supply a base gross quantity of 1.6 trillion cubic feet of natural gas from the Leviathan field over a 15-year term,” it said.
Leviathan is majority-owned by three Israeli firms, with 40 percent owned by Noble.
A source close to the deal, who asked to remain anonymous, said it was worth some $15 billion, and hailed the deal as “important for Israel geopolitically to establish our relationship with Jordan and other Arab countries.”
Export plans for the eastern Mediterranean have been taking shape over the past five years since Noble discovered the Leviathan field in Israeli waters.
The Leviathan field’s size is estimated at 18.9 trillion cubic feet (535 billion cubic metres) of natural gas, along with 34.1 million barrels of condensate, and has been hailed as the largest gas deposit found in the world in a decade.
Netanyahu has said exports from Leviathan and another field, Tamar, would bring in some $60 billion to state coffers over the next 20 years.
Israel’s natural gas finds are expected to sharply reduce its dependence on imports.
Egypt wants arbitration resolved to allow gas exports from IsraelThe partners in Israel’s Tamar natural gas field would export up to 2.5 trillion cubic feet of gas over 15 years Energy
Israel’s back-up gas supply floats far offshoreIsrael is the only country in the world to rely on a boat for its emergency energy supplies Energy
Gunmen blow up Gas pipeline in Egypt’s SinaiMilitants had forced a halt to gas supplies to Israel and Jordan Middle East
Israel will get $60b from 20 years of gas salesIsrael said on Wednesday it will keep most of its newfound natural gas for domestic use but will still allow enough exports to satisfy exploration ... Energy
Israel’s natural gas flows, Lebanon waits for reservesIsrael’s Tamar field, lying 100 kilometres off the coast of Haifa in the Mediterranean, is producing around 28.3 million cubic meters of natural ... Opinion