Leviathan Shakes Up Eastern Med Gas Sector

Late in December, Noble Energy announced its third and largest gas find off Israel. Almost two months after spudding the prospect’s first well, Noble declared that Leviathan could hold as much as 16 Tcf of recoverable gas. Noble also recently raised its reserve estimate for Tamar to 8.4 Tcf. When added to the 2009 Dalit discovery, the Israeli offshore holds more that 25 Tcf of gas reserves. While Tamar and Dalit are destined for the Israeli market, Noble and its Israeli partners are considering several export strategies for Leviathan either via pipeline or as LNG. Download here