Israel and Cyprus launched bid rounds in 2016 but with contrasting fortunes. Israel boasts some 40 tcf of proven gas reserves in its offshore but there has been scant interest in acreage put on offer in November. Next door in Cyprus ExxonMobil, Eni and Total are expecting to conclude negotiations with Nicosia.

The partners in Israel’s 2010, 22 tcf Leviathan gas discovery are edging towards reaching a final investment decision (FID) on the giant field. Majority shareholder, Tel-Aviv...