Leviathan partners sign $2 billion gas deal

By Zeynep Beyza Kilic

ANKARA (AA) - The Leviathan partners signed a $2 billion deal to sell natural gas to Or Energies, an affiliate of Israel's Dalia Power Energies, international news outlets reported Thursday.

Under the agreement, Or Energies will receive 8.8 billion cubic meters of gas over 20 years.

The gas plans to be used to operate the 600 megawatt capacity power station that Or Energy will build.

Partners of the Leviathan natural gas field off Israel's coast include Texas-based Noble Energy with 39.66 percent, Israeli Avner Oil and Delek Drilling each with 22.67 percent and Ratio Oil Exploration with 15 percent.

The Leviathan gas field, the country’s largest natural gas reservoir discovered in December 2010, is estimated to hold 621 billion cubic meters of natural gas reserves.

Earlier in the week, Delek Company announced that the Delek and Avner partnership signed a binding agreement with HSBC Bank and JP Morgan Limited to finance 45 percent of their stake in the Leviathan field.