Globes: Noble Insists on Keeping Tamar, Leviathan Rights

Noble Energy is reportedly opposed to Israeli government compromises over marketing

Israeli government officials met through the night with representatives of Leviathan partners Delek Group Ltd. (TASE: DLEKG) and Noble Energy Inc. (NYSE: NBL) in an attempt to reach an agreed compromise with the State as quickly as possible.

At the end of last month, "Globes" reported that Noble Energy was refusing to agree to the separate marketing model being proposed by the government, and now it appears it is also refusing the individual marketing model, senior sources in Israel's natural gas market say. Instead, Noble Energy is considering passive involvement in domestic natural gas marketing in Israel.

The hoped-for compromise is looking as far away as ever. Last month the Israel Antitrust Authority head Prof. David Gilo held a hearing for each of the Leviathan partners - Delek, Noble Energy and Ratio Oil Exploration (1992) LP (TASE:RATI.L). The hearings were designed to discover whether Delek and Noble Energy had illegally bought 85% of Ratio's rights in Leviathan and thus created a cartel.

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