IO Monthly Update - June 2014
Industry Updates
  • Leviathan partners signed a non-binding letter of intent with BG International Limited to export gas to BG's liquefied natural gas (LNG) plant in Egypt.
Leviathan partners announced on June 29 2014 that they signed a non-binding letter of intent with BG International Limited. The parties have confirmed their intention to negotiate on the formation of gas supply agreement, to export natural gas to BG's liquefied natural gas (LNG) plant in Egypt via a new undersea pipeline. The parties are holding talks to reach a deal under which Leviathan will supply 7 billion cubic meters annually for 15 years via an underwater pipeline, the partners said in a statement.
Regulatory Developments
  • The Israeli Oil and Gas exploration companies received another extension to submit the guarantees
The Ministry of National Infrastructures, Energy and Water Resources approved another extension to the oil and gas E&P companies to submit the new guarantees. The Ministry intends in this extension to provide companies with additional time for setting the guarantees, and to continue internal discussions at the Ministry.
Regional Events
  • China’s CNOOC in Cyprus talks with Aphrodite partners
According to Globes magazine, energy giant China National Offshore Oil Corp. (CNOOC) is holding talks to purchase 30-40% of the Aphrodite gas field in Cyprus's Block 12.
  • Woodside is in talks over Block 12 in Cyprus
According to Globes magazine, Australian energy exploration company Woodside Petroleum Ltd. continues to hold talks aimed at becoming a partner in Block 12 in Cyprus, despite having withdrawn from purchasing rights in Israel's giant Leviathan field.



The materials and information included in this newsletter are provided as a service to you by Israel Opportunity Oil & Gas Exploration Ltd. ("the Company") and the Company or any of its subsidiaries are not responsible for the accuracy and completeness of information provided herein. The information provided herein is not advice of any kind, and should not be treated as such.
The Company will not be liable to you in respect of any special, indirect or consequential loss or damage with respect to relying on the information herein.
If you wish to be omitted from the distribution list please send an email to ela@oilandgas.co.il