The Leviathan gas project partners have executed a non-binding Letter of Intent (LOI) with BG for the supply of natural gas from the Leviathan field, offshore Israel, to BG's existing natural gas liquefaction (LNG) facilities in Egypt. The LOI contemplates a total gross sales quantity of up to 3.75 Tcf (106 bcm) of natural gas over a 15-year period, or the equivalent of approximately 700 mcf/d (about 7 bcm/year) over the term. Delivery of the natural gas to BG is expected at the outlet of the Leviathan floating, production, storage, and offloading vessel, with planned connection to the LNG facilities by way of subsea pipeline. A final gas purchase and sales agreement is to be negotiated and will be subject to the receipt of regulatory approvals in Israel and Egypt.
Noble Energy operates Leviathan with a 39.66% working interest. Other interest owners are Delek Drilling with 22.67%, Avner Oil Exploration with 22.67%, and Ratio Oil Exploration with the remaining 15%. The Leviathan field has an estimated 19 Tcf (nearly 540 bcm) of discovered natural gas resources.