Absence of a regional gas agreement could be why Noble is delaying developing Leviathan

Is Noble Energy getting cold feet in its development of Israel’s Leviathan gas field? In a piece for Globes, Amiram Barkat asks why has there been no official and binding decision to develop the Leviathan gas reservoir. He says the key behind the delay is that the development of Leviathan depends on “a single strategic gas agreement,” particularly the one with Jordan, “which has not yet been closed.” Barkat adds “there is no progress in the deal with Egypt, and forget about Turkey. Sales of gas to Greece and Italy are a wonderful idea that could be realistic in a world of higher prices.” He says the absence of an export agreement is the “obvious” reason why Noble Energy is unwilling to take an investment decision.