AUSTRALIAN energy company Woodside has agreed to buy a 30% stake in Israel's huge Leviathan gas field, in a deal that could be worth up to US$2.3bn. Located roughly 140 km west of Haifa, the Leviathan field is the largest offshore discovery of the past decade, and is estimated to hold as much as 17tn ft3 of gas. Woodside says it will focus on developing the field for LNG, while the US' Noble Energy will remain in charge of its overall upstream operations. The company says that it is on track for gas production to begin in 2016, while a FEED (front-end engineering and design) assessment for an LNG project is already under way.
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