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Company will pay more than it had
originally offered to enter the Leviathan
field which sits 80 miles west
of Haifa.

Jerusalem Post, by JTA

Original Article

Posted By:John c, 2/7/2014 7:11:15 PM

(Israel) The Australian Woodside Petroleum company signed a $2.5 billion deal to enter the Leviathan gas field in offshore Israel. The owners of Leviathan were in Australia this week to try to finalize a year-old non-binding deal, worth up to $2.3 billion, The Australian daily reported. Woodside will pay more than it had originally offered to enter the gas field because its owners want to pipe much of the gas to Turkey and other regional countries. Pipeline exports to Turkey require less development spending, which would increase the value of the gasfield.

Comments:
A non-binding deal, but if it comes off, production will start in 2017 and some product will be shipped to Turkey.

      


Post Reply  

Reply 1 - Posted by: kanphil, 2/8/2014 12:09:56 AM     (No. 9724067)

Woodside´s major business in Australia is shipping liquefied natural gas(LNG) from its facilities on the Northwest Shelf to Japan. Pipelining to Turkey does not seem to fit their business plan. But, we shall see.

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Company will pay more than it had
originally offered to enter the Leviathan
field which sits 80 miles west
of Haifa.
Jerusalem Post, by JTA    Original Article
Posted By: John c- 2/7/2014 7:11:15 PM     Post Reply
(Israel) The Australian Woodside Petroleum company signed a $2.5 billion deal to enter the Leviathan gas field in offshore Israel. The owners of Leviathan were in Australia this week to try to finalize a year-old non-binding deal, worth up to $2.3 billion, The Australian daily reported. Woodside will pay more than it had originally offered to enter the gas field because its owners want to pipe much of the gas to Turkey and other regional countries. Pipeline exports to Turkey require less development spending, which would increase the value of the gasfield.



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