Noble, Delek set to begin arbitration on Eran license - GLOBES

30/05/2016, Hedy Cohen

The government is in dispute with the gas exploration companies because the Tamar Southwest field extends into the license.

Delek Group Ltd. (TASE: DLEKG) and Noble Energy Inc. (NYSE: NBL) will begin arbitration proceedings with the Israeli government over the Eran license. The license was expropriated from the energy exploration companies more than two and a half years ago and the issue remains in dispute. The problem is that part of the Tamar Southwest field owned by the companies extends into the license. Noble Energy and Delek agreed to the arbitration more than a month ago and today Minister of National Infrastructures, Energy and Water Resources Yuval Steinitz agreed that the arbitration will be conducted by former Supreme Court President Asher Grunis.

Eastern Mediterranean Natural Gas Sector Developments | Natural Gas Europe

Over the past few days a set of developments in the Eastern Mediterranean's natural gas sector have shed a new light on the turbulent region, which, for the most part, is characterized by the ongoing military preparations against Syria.

To begin, Eni is said to be interested in securing a deal with Israel in order to transfer gas from its offshore reserves into Cyprus.

Israel's energy Minister is currently on tour in Italy to meet with his counterpart along with Eni directors to discuss future plans that include participation of the Italian company in transferring gas that is going to be produced there in the near future.