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Sunday 06 Sep 2015 - 14:58 Makkah mean time-22-11-1436
(image from Breakingenergy)
Cairo, (IINA) - A 30 trillion-cubic-feet gas field found off the North African nation’s coast by the Italian company Eni last Monday sent many Israeli energy companies into their lowest levels since March, Rigzone reported.
Meitav DS Investments (Israeli company) recommended investors to sell stocks of companies involved in drilling at Leviathan, Israel’s largest gas field, while the project partner Noble Energy Inc. fell as much as 6.9 percent in New York on Tuesday.
The gas discovery in the eastern Mediterranean has the potential to transform the region’s energy balance in favor of Egypt has thrown the outlook for stocks of Israeli producers into disarray.
The new gas field, which Eni says is the biggest-ever in the Mediterranean, threatens Israel’s vision to export gas for the first time to countries including Egypt, Jordan and the Palestinian territories.
AG/IINA
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