28 April 2024
Leviathan first gas set for 2019 despite FID delay
Publication date: 15 February 2017
Gas Strategies Group
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First gas from Israel's giant Leviathan field is still set for 2019, despite a lack of key agreements underpinning final investment decision (FID) for the project, with operator Noble Energy pledging up to USD 520 million for development work due to start this year.
Noble issued the statements in its Q4 2016 and full-year results, released earlier this week. Noble and its Leviathan partners were due to take FID in Q4, but the date expired two months ago. Pressure is now building, as partner Delek Group reportedly has until 20 February when its USD 1.5 to USD 1.75 billion financing agreement with HSBC and JP Morgan, which would fund its portion of the development project, expires.