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Source: http://www.globes.co.il/serveen/globes/docview.asp?did=1000813360&fid=942
UBS Investment Bank Raises Israel's Offshore Gas Valuations
(Globes) UBS analyst Roni Biron says the production platform for Israel's Tamar natural gas field "reached its destination last week and is on track to commence supply in April. Phase-1 capacity is over-subscribed with the latest domestic contracts and phase-2 will be needed to accommodate future demand." "We therefore see limited development and commercial risks alongside attractive cash flow in the coming decades and raise our project valuation to $10.4 billion." As for Leviathan field, Biron says, "Given its critical mass and geographical location, we see a strong case for Leviathan, as Asian and European off-takers look to diversify and secure supply."