Crude Oil ( ) Brent Crude ( ) Natural Gas ( ) S&P 500 ( ) PHLX Oil ( )

From Bloomberg

Israel’s natural gas companies and Noble Energy Inc. have signed the first contract to supply fuel from the country’s largest gas reserves, the offshore Leviathan field.

Partners in Leviathan will supply 6 billion cubic meters of gas over 18 years to two power stations owned by local electricity producer Edeltech Group, according to a statement filed to the Tel Aviv Stock Exchange. Under a government program for the country’s gas industry approved last month, Leviathan will be developed by Texas-based Noble with Delek Drilling LP and Avner Oil Exploration LP, units of Israel’s Delek Group Ltd.

“This deal marks a beginning. We are advancing more agreements with customers in Israel, Jordan, Egypt and Turkey,” Yossi Abu, Delek Drilling’s chief executive officer, said in an e-mailed statement. “Development of the Leviathan field will ensure Israel’s energy security and gas export contracts from the site will strengthen the country’s geopolitical position in the region.”

Continue reading story…