Israel’s Government to Back Chevron Takeover of Noble Gas Assets

Israel’s energy minister is “confident” the country’s regulators will allow Chevron Corp. to operate the local natural gas assets of Noble Energy Inc., despite a campaign by environmentalists to stop that from happening.

A public hearing about oil spills elsewhere in the world involving Chevron, which agreed to buy Houston-based Noble for about $5 billion last month, is “not necessary,” according to Energy Minister Yuval Steinitz.

“There is no problem with spills” in the Israeli offshore gas fields that Chevron would operate and partly own, he said in a phone interview on Tuesday. “Even if you have some leaks, it evaporates immediately into the air. Natural gas is evaporating into the air all the time.”

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