US independent Noble Energy will be breathing easier this week after a committee tasked with designing a long-term gas policy for the Israeli government reportedly said it would allow substantial exports from current and future gas discoveries.
The Tzemach Committee, formed 10 months ago, is set to publish its final recommendations in mid-September. The Globes and Haaretz newspapers have seen draft copies of the final document, however, which outlines what volumes of gas could be exported.
Noble was concerned that much of the gas held in its giant offshore Leviathan and Tamar discoveries would have to be preserved for domestic use but these fears look to be unfounded if the reports are correct.Globes
