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Leviathan Partners Ratify $3.75 Billion Gas-Development Plan

  • Noble Energy, Delek agree on final investment decision
  • Tel Aviv Oil & Gas index gains most in nearly five months
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The companies that own the rights to Leviathan, Israel’s largest natural gas reservoir, approved a plan to allocate $3.75 billion to develop the offshore site. Israel’s main gas equity index rose the most in almost five months.

The partners, led by Delek Group Ltd. and Houston-based Noble Energy Inc., have agreed on a final investment decision, which lays out how the companies intend to spend the funds to develop Leviathan over the next three years, according to a Tel Aviv Stock Exchange filing Thursday.