Oh, how times have changed. If Israel had discovered its natural gas fields several years ago, it would have seemed absurd that it would build a pipeline to Egypt so that much of that gas can be exported to the world. Today, though, that is exactly what Noble Energy (NYSE:NBL) and its partners in the Leviathan gas field plan to do. The group has recently signed a 15-year supply contract with a LNG export terminal, operated by British company BG Group, that will be equivalent to almost 20% of the proved reserves in the Leviathan field.
While it may seem slightly odd to see this kind of cooperation between Israel and one of its neighbors, this deal was quite possibly the best method Israel could benefit from its new found wealth of natural gas. Find out why this is the case by tuning into the video below.
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