Offshore staff
HOUSTON – Noble Energy Inc. and its partners have amended their gas sales agreements with Dolphinus Holdings for the Leviathan and Tamar fields offshore Israel.
These now provide for total combined firm contract quantities of 3 tcf, more than double the previous firm commitments. In addition, each agreement has been extended by five years to 15-year terms.
From next year onwards, the terms will be as follows:
- Jan. 1, 2020-June 30, 2020: Leviathan 200 MMcf/d of natural gas
- July 1, 2020-June 30, 2022: Leviathan 350 MMcf/d, Tamar 100 MMcf/d
- July 1, 2022-December 31, 2034: Leviathan 450 MMcf/d, Tamar 200 MMcf/d.
During the two-year period ended June 30, 2022, Leviathan will backstop any volume commitment that Tamar cannot deliver under the amended agreement.
Chairman and CEO David L. Stover said: “This agreement is a major step for Noble Energy’s Eastern Mediterranean projects, expanding the long-term export demand in the region. The supply flexibility between assets will enable Tamar to continue producing at high rates, while Leviathan grows rapidly toward its initial capacity.”
In addition, the company and its partners are close to completing the acquisition of an interest in the EMG (East Mediterranean Gas) pipeline.
10/02/2019
