Israeli natural gas developer signs a deal to sell to Jordan; Israeli media values it at $15B

MarketsAssociated Press

A developer of Israel's offshore natural gas deposits says it has signed a letter of intent to sell gas to Jordan over a 15-year period.

Noble Energy Inc. says under the letter of intent, it will sell 1.6 trillion cubic feet of natural gas to neighboring Jordan's National Electric Power Company Ltd.

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A spokesman for Noble would not discuss the value of the deal. Israeli media said it was worth some $15 billion.

In an announcement Wednesday, Houston, Texas-based Noble said the gas would be supplied at a border location between the two countries, with infrastructure that has yet to be built.

The agreement is subject to each country's regulatory approvals. The gas will come from Israel's Leviathan field, which is expected to come online in 2017.