BREAKING NEWS

Noble Energy says prefers selling natural gas regionally

By GLOBES

NOVEMBER 25, 2013 06:55

Noble Energy CEO Charles Davidson said on Saturday that the company preferred selling natural gas from the Leviathan field to Israel's neighboring countries, such as Egypt and Jordan, and he deemphasized construction of an liquefied natural gas (LNG) facility for the sale of gas to the Far East.

The reason is that a gas pipeline infrastructure in the region already exists, which makes regional sales cheaper than building an LNG plant and selling the gas to the Far East.

"We will be able to market more gas regionally at lower capital cost because all of these regional markets are basically using pipes, and in some instances they're connecting the pipes that already exist," said Davidson.

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