LNG

The East Mediterranean Gas Forum, grouping Israel, its Arab neighbours as well as the Palestinian Authority, Italy, Greece and Cyprus has been formalized to develop natural gas and economic development in the region.

Delek Group of Israel, the company with stakes in the giant Leviathan field in the Eastern Mediterranean set to come on stream in 2020, said it was one of the bidders for UK North Sea oil and natural gas assets being sold by Chevron Corp. of the US.

Royal Dutch Shell has formally exited a natural gas project offshore the Gaza Strip and handed over control to the Palestine Investment Fund (PIF), the Palestinian Authority’s investment arm, to seek its own energy success in an East Mediterranean field with proven reserves.

Feb 21 (LNGJ) - Noble Energy, the US exploration and production company with interests in US shale and East Mediterranean natural gas, said capital expenditure is expected to total between $2.7 billion and $2.9 billion in 2018, with almost 70 percent allocated to the US onshore program and over 25 percent to the East Med. Noble said US spending was expected to be around $1.8 billion. In the East Med, Noble’s expected expenditure of $750 million to make progress on the Leviathan development offshore Israel from where gas will be sold to Jordan, Egypt and the Palestinian Authority.