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March 28, 2014 9:23 am

Australian Company Delays Signing Landmark Israeli Gas Field Agreement

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Natural gas from Israel's Tamar field began flowing to customers in 2013. Photo: Screenshot / Youtube.

Natural gas from Israel's Tamar field began flowing to customers in 2013. Photo: Screenshot / Youtube.

Reuters Australia’s Woodside Petroleum Ltd has delayed signing a landmark agreement to take up to a $2.7 billion stake in Israel’s Leviathan gas field, but said on Friday it was in talks to overcome remaining issues.

The agreement was supposed to be signed on March 27, however sources have said Woodside was balking at a push by the Israeli government to cut the potential share of profits Woodside could take on liquefied natural gas (LNG) exports to Asia.

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