Development of the Leviathan natural gas field will cost $8 billion and production will begin in late 2017 said Noble Energy Inc. (NYSE: NBL ) EVP Eastern Mediterranean Keith Elliott at the “Globes” 2013 Israel Business Conference. “Leviathan is our next major project in Israel.” Elliott continued, “Leviathan will be developed in stages, a domestic component and an export component. The expected cost of developing the field is $8 billion, and we’ll start production in late 2017, a year behind our initial estimate. The reasons for this are known, such as Israel’s export policy. We need an environment that supports investment. We intend to develop Leviathan as fast as we can, and we’re confident that the challenges will be solved. We’re committed to working with our Israeli partners and the Israeli government.” Commenting on the potential of oil at Leviathan, Elliott said, “We’ve […]