Noble Energy issues statement on regulatory framework in Israel

Noble Energy Inc. has issued a statement on regulatory framework in Israel. The company said that it continues to work with the government of Israel to address matters necessary to facilitate the development of its Tamar and Leviathan discoveries and ensure a stable investment climate. 

David L. Stover, Noble Energy's Chairman, President and CEO, said: "Under the leadership of the Prime Minister and the Minister of Energy and Water Resources, a regulatory framework meeting these objectives has been overwhelmingly approved by the Israeli cabinet and [recently] was presented to the Knesset. It is imperative that the government of Israel follow through on this approved framework without further delay. Noble Energy remains fully prepared, and is well positioned, to take the actions necessary to protect the value of its assets.

"Regional demand supports the further development of our world class Tamar and Leviathan fields. Noble Energy continues its ongoing discussions with natural gas customers throughout the region, and [recently] the government of Egypt publicly reiterated its support for the import of gas from Israel for both domestic and LNG export purposes. We are confident that the quality of our Israel assets, extensive appraisal and planning efforts, and proven track record of project execution and operating performance position us well to supply natural gas to the substantially underserved regional market."

Edited from press release by Callum O'Reilly

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/04092015/noble-energy-issues-statement-on-regulatory-framework-in-israel-1241/