The gas partnerships of Yitzhak Tshuva today announced that they were preparing to development the Leviathan natural gas reservoir, a few hours after Prime Minister Benjamin Netanyahu signed the gas agreement.
"Delek Drilling Limited Partnership (TASE: DEDR.L) and Avner Oil and Gas LP (TASE: AVNR.L) are committed to the agreements in the gas plan, and to Israeli society as a whole. They are preparing to develop the Leviathan project and expand the Tamar project as quickly as possible," the partnerships stated. "The gas discoveries are the Israeli economy's future growth engine, and will provide hundreds of billions of shekels in revenue for the benefit of Israelis, for the development of Israeli industry, and for creating thousands of new jobs."
The press release went on to state, "Approval of the plan paves the way for making the huge investments required to develop the Leviathan project and expand the Tamar project in order to ensure Israel's energy independence and security, while taking advantage of the geopolitical window of opportunity for exporting gas to the neighboring countries. The gas industry has lost precious years because of regulatory delays, but Israel today decided democratically: the Israeli economy must be given gas."
The statement was made only in a press release, without any official notice to the Tel Aviv Stock Exchange (TASE), which would have forced them to meet their promises. On the other hand, Noble Energy reported to the stock exchange in the US that it was continuing various assessments concerning the development of Leviathan, and would publish a final decision before the end of 2016. It welcomed the gas plan, which it said provided certainty in the gas sector.
Noble Energy added, "The company is revising the capital requirements needed for the development of Leviathan."
Published by Globes [online], Israel business news - www.globes-online.com - on December 17, 2015
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