Noble Energy announced, Tuesday, the execution of a gas sales and purchase agreement to supply natural gas from the Leviathan field off Israel's Mediterranean coast to the National Electric Power Company Limited of Jordan for consumption in power production facilities. Under terms of the deal, Noble Energy and the Leviathan partners will supply a gross quantity of approximately 1.6 trillion cubic feet of natural gas or 300 million cubic feet per day over a 15-year term with an option to increase that by almost 17 percent. Noble said gross contract revenues are estimated to be approximately $10 billion.
The company expects to complete construction and field development to deliver first gas from Leviathan to NEPCO via a pipeline in as little as three years, once everything is in place. Noble already has an agreement with the Jordan Bromine Company and the Arab Potash Company, which will establish its first gas exports to Jordan from the Tamar field, later this year.