Noble Energy and partners sign $1.2B Leviathan supply deal

|About: Noble Energy, Inc. (NBL)|By:, SA News Editor

Noble Energy (NBL) and its partners in the giant Leviathan gas field offshore Israel secure their first supply deal, a 20-year agreement to sell $1.2B worth of gas to the Palestine Power Generation Company.

The Leviathan group will sell a total of up to 4.75B cm of natural gas once Leviathan starts production in 2016 or 2017, says Delek Group (DGRLY, DLKGF) one of the partners.

PPGC plans to build a $300M power plant in Jenin in the Palestinian-controlled West Bank to be operated by the gas from Leviathan.