US operator Noble blames Israeli regulatory uncertainty for lack of progress at its Leviathan project. A lack of sales deals and low gas prices are more obvious targets.

Israel’s supreme court this week failed to approve a gas outline necessary to begin the development of the country’s biggest offshore gas field, 22 tcf Leviathan. US operator Noble may see this as a blessing in disguise, allowing it to stall on multi-billion dollar development until gas prices rebound.

The...