Connect with us

Hi, what are you looking for?

Jewish Business News


Last minute hitch delays Leviathan-Woodside signing

Woodside Petroleum objects to the Finance Ministry’s draft rules for taxing gas exports.
Tamar,    The Natural Gas Production Platform Off The Israeli Coast,    Is To Begin It's Natural Gas Production

The Leviathan-Woodside deal will not be signed this evening. Australian company Woodside Petroleum objects to the formula for taxing exported gas recommended by the Ministry of Finance in draft legislation.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

Woodside made its signature on the deal to buy 25% of the rights in the Leviathan gas field conditional on the taxation question being settled to its satisfaction. “Globes” revealed that, in a letter to Minister of Finance Yair Lapid, Woodside demanded that the taxation model should recognize a return on capital of at least 17-19% for the floating gas liquefaction plant that Woodside intends to construct in order to export gas from the Leviathan field to East Asia. In the draft bill published yesterday, however, no norm for return on capital is set. Only the taxation principles are outlined, with implementation of the model left to the Tax Authority’s discretion.

The signing ceremony for the deal whereby Woodside will buy 25% of Leviathan for $2.71 billion was due to be held at 19:30 this evening at the King David Hotel in Jerusalem.

Published by Globes [online], Israel business news – 



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.