Exxon in Talks to Build Floating LNG Platform to Boost Israel Exports

Irving-based Exxon Mobil Corp. is in discussions to build a platform that would expand the export reach of Israel's biggest natural gas field, according to people familiar with the matter. The world's largest publicly-traded oil and gas company is in talks with the firms developing Israel's Leviathan reservoir to build a floating liquefied natural gas ship, the people said, requesting anonymity because the matter is private. Such a project would allow the Leviathan partners to export to countries not reachable with pipelines and avoid the need to build expensive infrastructure to connect to LNG facilities in Egypt.It's possible the discussions ultimately won't lead to a partnership, the people cautioned. An Exxon representative said the company was still evaluating its options."It's too early to comment on specific development and production timelines," the representative said.Despite considerable gas discoveries in the Eastern Mediterranean region over the past decade, viable export routes have proven tough to find and global energy firms haven't rushed in. The Leviathan partners have signed deals to meet surging demand in Egypt, Jordan and Israel, but haven't yet found a way to export to Europe or East Asia.  Continue reading...

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