The partners in Israel’s giant 22 tcf Leviathan offshore gas field have trimmed their estimate of development costs by $1bn. Though they have slated a final investment decision for Q4 this year, without key sales deals, the project will be going nowhere fast.

US-firm Noble Energy and its Israeli partners Delek and Ratio Oil submitted to Israeli authorities on 25 February a revised plan for Phase 1 development of the aptly name 22 tcf Leviathan offshore gas field.

The new plan will...