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10 Groups Bid to Export Israel’s Leviathan Gas to Turkey; Deal Worth $22-$31 Billion
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by Joshua Levitt
Natural gas from Israel's Tamar field began flowing to customers in 2013. Photo: Screenshot / Youtube.
At least 10 bids have been received in a tender by the partners in Israel’s Leviathan offshore natural gas field to export the fuel to Turkey via a pipeline they will construct, Israel’s Globes business daily reported on Monday.
The value of the bids ranged from $22 billion to $31 billion in revenue for Leviathan, the newspaper said, based on their requested orders for between 7 billion cubic meters (BCM) a year to 10 BCM, and a 15-year gas supply contract at $6 per million British Thermal Units (mmBTU ), the price of natural gas in Israel’s domestic market.
The deal the companies bid for would include laying a pipeline to Turkey from Leviathan’s proposed floating production, storage and offloading (FPSO) ship, which delivers gas to Israeli and regional customers, Globes said. The bids included both groups that were willing to build and finance the pipeline independently, and those asking to partner with Leviathan.
Globes cited unnamed sources as saying two of the 10 include Zorlu Group, which has stakes in independent power producers in Israel, and Turcas Petrol, in a joint bid with German electricity utility RWE.
Leviathan’s owners include Delek Group Ltd., with 45.34%, split between units Avner Oil and Gas LP and Delek Drilling LP, Noble Energy Inc., with 39.66%, and Ratio Oil Exploration, with 15%.
