Leviathan gas reserve estimate increased by 16%

|By:, SA News Editor

The gas reserve estimate for Israel's Leviathan natural gas field has been raised by 16%, increasing from 18.9 to 21.9 trillion cubic feet.

The partners in the field, including Noble Energy (NBL), Delek Group (DGRLY) and Ratio Oil (RTEXF), already announced last month a $30B preliminary agreement with BG Group for exporting gas to BG's LNG plant in Egypt. Under government regulation, only 40% of the gas reserves will be allowed to be exported.

Production is scheduled to begin in 2017.