Oil and Gas News from OilGasDaily.Com  
OIL AND GAS
Israeli power to get gas from huge offshore field
by Daniel J. Graeber
Tel Aviv, Israel (UPI) Dec 1, 2016


disclaimer: image is for illustration purposes only

The partners tapping into one of the largest natural gas fields ever discovered off the coast of Israel said they brokered a power deal worth $2 billion.

Delek Drilling, Texas-based Noble Energy, Israel's Avner Oil and Ratio Oil, a collective working to exploit the Leviathan natural gas field in the Mediterranean Sea, said they reached an agreement with Dalia, the largest private power plant in Israel, to supply fuel for up to 20 years once production begins.

The Leviathan partners said that, in their opinion, cumulative revenues for the sales agreement "is likely to come to $2 billion," assuming Dalia takes on the full amount of gas outlined in the terms of the deal.

Leviathan is expected to start production in 2019 or 2020. Leviathan and the nearby Tamar field combine for an estimated 28 trillion cubic feet of natural gas reserves, with Leviathan accounting for more than half of the aggregate. A good portion of the gas reserves in Leviathan are designated for exports.

In September, a Jordanian power company agreed to a take-or-pay scheme tied to Leviathan field. That agreement was worth an estimated $10 billion and was the first such agreement for the Leviathan field.

Last year, the Israeli partners expressed interest in coordinating gas deliveries from the Mediterranean basin to Egyptian gas and electric companies. The U.S. State Department facilitated talks in 2014 that led to the signing of regional deals for gas deliveries from Israeli fields.


Comment on this article using your Disqus, Facebook, Google or Twitter login.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
OIL AND GAS
Oil-rich Alberta nearing end of recession
Edmonton, Alberta (UPI) Nov 29, 2016
A rebound in crude oil prices and recovery in the sector in general means the economy in Alberta province is primed for growth, the finance minister said. The province was scorched by wildfires in May, which idled about 1 million barrels per day worth of regional oil production. The net impact on the provincial economy of about $387 million, plus lower crude oil prices, meant Alberta wa ... read more


OIL AND GAS
Investing in the 'bioeconomy' could create jobs and reduce carbon emissions

Argonne researchers study how reflectivity of biofuel crops impacts climate

UNIST researchers turn waste gas into road-ready diesel fuel

NextCoal to produce bio-coal for export to Japan, bio-oil for domestic use

OIL AND GAS
EU unveils plans to boost 'clean energy' use

New fabrication technique leads to broader sunlight absorption in plastic solar cells

Sun setting on Japan's solar energy boom

Tesla microgrid powers entire island with solar in American Samoa

OIL AND GAS
Owl-inspired wing design reduces wind turbine noise by 10 decibels

DONG Energy sets wind energy sights on Taiwan

Interior set to rule on future of BLM's Renewable Energy Program

Microsoft Corp. taps deeper into wind power

OIL AND GAS
'Diamond-age' of power generation as nuclear batteries developed

Nuclear energy: who's advancing and who's retreating

Swiss reject speedy nuclear phaseout

Breakthrough offers greater understanding of safe radioactive waste disposal

OIL AND GAS
Climate model predictions are telling a consistent story

Huge reduction in African dust plume impacted climate 11,000 years ago

Study Sheds New Insights Into Global Warming Trends

Overheated Arctic sign of climate change 'vicious circle'

OIL AND GAS
Car manufacturers to juice Europe with e-charging network

Could moving walkways be the key to car-free cities of the future?

Five things to know about VW's 'dieselgate' scandal

How much attention do drivers need to pay

OIL AND GAS
After IS hell, displaced Iraqis face winter freeze

Overshadowed by coalition, Iraqi aviation takes on IS

Iraqis in liberated Mosul district wave white flags

Suicide gunmen attack Iraqi city of Samarra

OIL AND GAS








The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.