29 July 12 12:42–Sources inform “Globes” that Israel Electric Corporation (IEC) (TASE: ELEC.B22) is mulling purchasing gas from the Leviathan partners after Noble Energy Inc. (NYSE: NBL) announced that it will begin delivering natural gas to Israel from the Leviathan field in 2016. Delivery will be regardless of the export issue, company executives said at an analysts’ briefing on Thursday.
Sources also inform ”Globes” that Noble Energy will soon publish a tender to lease a floating production, storage and offloading (FPSO) ship for the development of the Leviathan field and the delivery of gas to Israel. Early deliveries from Leviathan will help Israel alleviate the natural gas shortage expected from 2015.
The analysts’ briefing was held following the publication of Noble Energy’s financial report for the second quarter of 2012. The company posted a non-GAAP net profit of $145 million ($0.77 per share), below the analysts’ estimates.
In response to an analyst’s question, Noble Energy chairman and CEO Charles Davidson said, “The demand for gas in Israel has grown substantially. And so we see a bigger market there than probably what we saw at the time we designed Tamar. And so we are looking at a number of options of how we can provide incremental gas to the Israeli market.”…Read More>>