According to Delek Group, parent company for two of Noble’s partners, the gas will serve power plants that Edeltech and Turkish partner Zorlu plan to construct in Ashdod and Mishor Rotem.
The agreement is for a total of around 6 bcm (212 bcf) over an 18-year period, although the actual quantities purchased can be adjusted according to the size of the power plants.
Noble and its partners estimate potential revenues from this contract at $1.3 billion.
The agreement remains subject to various conditions, including governmental approval for the Leviathan reservoir’s development plan; receipt of a license for the gas transportation system from the reservoir; and the partners reaching a final investment decision by the end of 2016.
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