TEL AVIV Feb 23 The partners in the Leviathan
natural gas field said on Thursday they approved a $3.75 billion
final investment decision (FID) in the first phase of the giant
reservoir, the largest energy project in Israel's history.
The reservoir, located 100 kilometres (62 miles) west of
Haifa, was discovered in December 2010 and is one of the largest
offshore natural gas discoveries in the world in the previous
The project's $3.75 billion budget is in addition to $1
billion that has already been invested to date in various
exploration, appraisal and planning activities.
According to the development plan that was approved last
year by the government, the project will be completed within
less than three years and the gas from Leviathan will be
available to the Israeli market by the end of 2019.
(Reporting by Tova Cohen)