PRESS: Gazprom withdraws from talks over Israel’s Leviathan

MOSCOW, May 25 (PRIME) -- Russian gas giant Gazprom has lost its interest in development of the Leviathan gas field at the shelf of Israel, business daily Vedomosti reported Wednesday with a reference to a representative of the company.

No definite reasons for the decision were provided, Vedomosti said adding that Gazprom refused from participation in any projects in Israel.

In 2012, Gazprom discussed a purchase of a 30% stake in the project from a consortium of the project operators – Israeli companies Delek Drilling, Avner Oil & Gas and Ratio, and U.S. company Noble Energy. Gazprom was ready to pay the highest price for the stake among other contenders including Total, ExxonMobil, ConocoPhillips, Chevron, and Woodside Petroleum.

Resources of the Leviathan field are estimated at 620 billion cubic meters and the first gas may be received in the field in 2019, Vedomosti reported citing data of the Israeli National Infrastructure, Energy and Water Resources Ministry.

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