March 27, 2014 / 11:10 PM / 4 years ago

Woodside delays signing landmark Israeli gas field deal

JERUSALEM/MELBOURNE, March 28 (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.

“Discussions continue with the parties and the Israeli government with a view to resolving the remaining issues and executing definitive agreements,” Woodside said in a statement to the Australian stock exchange. (Reporting by Ari Rabinovitch and Sonali Paul; Editing by Richard Pullin)

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