Woodside buys 25% stake in Israel's Leviathan field, Noble to remain operator

|About: Woodside Petroleum Ltd. (WOPEF)|By:, SA News Editor

Israel takes a step closer to becoming a natural gas exporter after Australia's Woodside Petroleum (WOPEF, WOPEY) signs a preliminary agreement to buy a 25% stake in the east Mediterranean Leviathan gas field for up to $2.55B.

Noble Energy (NBL) will remain the project's lead partner with a 30% stake, while the other groups involved, Israel's Delek Group (DGRLY, DLKGF), Avner Oil and Ratio Oil, will each sell one-quarter of their stakes to Woodside.

Leviathan is estimated to hold ~19T cf of natural gas, enough to supply all of Europe for more than a year.