Reuters: Pressure grows on Israel's Leviathan to finalise gas deals

The group developing Israel's giant Leviathan gas field is running out of time to clinch binding major supply deals with Egypt and Jordan to ensure government support for developing the resource before a November deadline.

The field, which promises to help build Israel's regional ties through large-scale energy exports, has lost one of its biggest potential customers, Turkey, in political fallout from the 50-day Gaza war.

And talks with companies, such as Britain's BG Group which wants to bring in Israeli gas to feed its Egyptian liquefied natural gas (LNG) export plants, hinge on difficult commercial negotiations.

Israel has set a November deadline for Leviathan developers Noble Energy of Texas and Israel's Delek Group to submit their plans for getting the field to the production stage.

Failure to submit by the deadline a development plan that includes long-term gas sales with mayor buyers, opens the door to production delays beyond its currently envisaged 2018, when a raft of new export projects around the world threatens to depress profits. MORE