In a dramatic statement ahead of expected developments in the long saga over Israel’s proposed gas roadmap, Noble Energy President and CEO David Stover fired a warning shot on Thursday at the country’s political leadership.
“It is imperative that the government of Israel follow through on this approved framework without further delay. Noble Energy remains fully prepared, and is well positioned, to take the actions necessary to protect the value of its assets,” he warned.
He emphasized the support of Prime Minister Benjamin Netanyahu and Minister of Energy Steinitz for the project and that Noble was still negotiating with Middle Eastern customers. “Regional demand supports the further development of our world class Tamar and Leviathan fields. Under the leadership of the Prime Minister and the Minister of Energy and Water Resources, a regulatory framework meeting these objectives has been overwhelmingly approved by the Israeli cabinet and yesterday was presented to the Knesset.”
Hinting at the market drama that rocked the TASE this week after the discovery of a massive gas reservoir off Egypt’s shores, Stover said, “Noble Energy continues its ongoing discussions with natural gas customers throughout the region, and yesterday the government of Egypt publicly reiterated its support for the import of gas from Israel for both domestic and LNG export purposes.”
He concluded: “We are confident that the quality of our Israel assets, extensive appraisal and planning efforts, and proven track record of project execution and operating performance position us well to supply natural gas to the substantially underserved regional market."
Published by Globes [online], Israel business news - www.globes-online.com - on September 3, 2015
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