Israeli natural gas requires patience

Australian energy company Woodside Petroleum said it was “prepared to be patient” with the Leviathan natural gas field as Israel mulls its export policies.


Woodside in December agreed to pay more than $1.2 billion in total compensation to take a 30 % stake in the Leviathan natural gas field.


An Israeli court is assessing Israel’s natural gas policies to determine how much should be reserved for domestic use and how much should be exported.


Woodside Chief Executive Officer Peter Coleman said the company hopes to get clarity regarding its investment decisions once the court makes a decision later this year.