“Gazprom” has lost interest in the field “Leviathan” offshore Israel

“Gazprom” has lost interest in the development of the field “Leviathan” offshore Israel in the Mediterranean sea. About this “Vedomosti” said the representative of the company.

He said that the Russian company has also abandoned the idea of development of other projects in Israel. The reasons for this are the newspaper’s source did not elaborate.

As reminds the edition, Gazprom was negotiating to buy a 30% in the project from consortium of companies, which included Israeli Delek Drilling, Avner Oil & Gas and Ratio and U.S. Noble Energy. At the same time the interest in the project showed Total, ExxonMobil, ConocoPhillips and Chevron, however, Gazprom was willing to pay more than others, wrote to the Israeli Globes.

As noted by the head of LNG at ICIS Heren Roman Kazmin, the decision of the Russian company seems logical, as the government of Israel, under existing laws, can redirect already contracted to foreign purchasers of gas to the domestic market if necessary. The expert noted that the prices regulated by the state. He added that this was the reason of refusal from participation in the project Australian Woodside Petroleum Ltd in 2014.

Offshore field “Leviathan” was opened in 2010, it can hold about 620 billion cubic meters of natural gas.