jillian.sherburne

Noble’s development plans in Israel approved

Discussion created by jillian.sherburne Champion on Dec 17, 2015

Israel gives final approval to Noble's development plans

Fuel Fix

By resolving the final sticking points in the anti-trust dispute, the Houston-based oil company can begin pressing forward with plans to expand the Tamar and develop the Leviathan.

The Israeli government has agreed to implement a natural gas framework, paving the way for Noble Energy to develop two massive gas fields offshore Israel’s coast and ending a year of regulatory limbo for the projects.

The announcement marks a victory for Noble, which has been working for nearly a year to persuade Israeli government officials and regulators to approve its plans. The company froze its investment last year after an antitrust commissioner raised concerns that the development plans gave Noble and its Israeli partners too much control over the country’s newfound bounty of natural gas.

Israel looks toward energy independence and tapping sources of domestic natural gas supply, but the debate continues despite the Prime Minster's approval.

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