New regulatory framework should advance Israeli projects

摘要

After years of deliberations, negotiations and amendments, the Israeli government recently adopted its final framework for regulation of the country's burgeoning natural gas sector. Israel has historically been a natural resource-poor country; however, over the last seven years, several major offshore natural gas reservoirs have been discovered in the country's Exclusive Economic Zone (EEZ). The four largest natural gas fields are largely owned by Noble Energy and the Delek Group, as offshore exploration by other right holders has mostly proven unsuccessful. As of June 2016, Delek and Noble together controlled 85% of the Leviathan field, 67.25% of the Tamar field, and 100% of both the Karish and Tanin fields.