The Leviathan reservoir, which is situated about 100 kilometers west of Haifa, was discovered in December 2010, and recognized as the largest natural gas discovery in the world in the last ten years. The rights holders approved $3.75 billion for development in addition to approximately $1 billion that has already been invested in various exploration, appraisal, and planning activities.
One of the biggest export contracts signed by the Leviathan Partners was with the Jordanian Electricity Company (NEPCO). According to the Export Agreement, the marketing company undertook to supply natural gas to NEPCO for a period of either 15 years after the commencement of commercial supply or when the total quantities supplied reach approximately 45 BCM (billion cubic meters), whichever occurs earlier.
The final investment decision was formally adopted on Thursday, February 23, 2017.
Mr. Yossi Abu, the CEO of Delek Drilling and Avner, addressed the upcoming development of the Leviathan Natural Gas Reservoir. He explained the significance of the agreements signed with the Leviathan Partners and the challenges of developing the reservoir.
Full video of the event can be found HERE
