“Both sides agreed to peacefully resolve the situation in the border areas in accordance with various bilateral agreements,” the foreign ministry said in a statement.The ministry added that the commanders agreed an “early resolution” was “essential” for bilateral relations between the world’s two most-populous nations.”Accordingly, the two sides will continue the military and diplomatic engagements to resolve the situation and to ensure peace and tranquility in the border areas,” the statement said.There have been numerous face-offs and brawls between Chinese and Indian soldiers at the frontier, but they have become more frequent in recent years. India and China have agreed to “peacefully resolve” a latest border flare-up that has heightened tensions between the nuclear-armed neighbors, New Delhi said Sunday, after a high-level meeting between army commanders.Tensions have flared in recent weeks between the two regional powers over their 3,500-kilometer frontier, which has never been properly demarcated.Thousands of troops from both countries are involved in the face-off concentrated in India’s Ladakh region, just opposite Tibet. On May 9, several Indian and Chinese soldiers were injured in a high-altitude cross-border clash involving fists and stone-throwing in Sikkim state.Indian officials said that within days, Chinese troops encroached over the demarcation line in the Ladakh region, further to the west.India moved extra troops to positions opposite.The talks, which took place in the Chushul-Moldo region between the two commanders, is believed to be the highest-level meeting since the Sikkim exchange.India’s Prime Minister Narendra Modi and his Chinese counterpart Xi Jinping have sought to ease the tensions at summits over the past two years when they agreed to boost border communications between their militaries.Topics :
Houston-based oil and gas company Noble Energy has signed agreements to sell significant quantities of natural gas from the Leviathan and Tamar fields off Israel to Dolphinus Holdings to supply gas in Egypt for a value of up to $14 billion.These agreements, one for natural gas from Leviathan and one for Tamar, each provide for total contract quantities of 1.15 trillion cubic feet of natural gas, Noble said on Monday.The natural gas is anticipated to supply industrial and petrochemical customers as well as future power generation in Egypt.Sales volumes under the agreement associated with the Leviathan field are anticipated to begin at a firm rate of approximately 350 million cubic feet of natural gas per day (MMcf/d) at the startup of the Leviathan project at the end of 2019.To remind, the final investment decision (FID) for the Leviathan development was made in February 2017. The first phase of development of the Leviathan is expected to cost around $3.75 billion. The Leviathan will be developed using a subsea system that connects production wells to a fixed platform located offshore with tie-in onshore in the northern part of Israel.For the Tamar agreement, sales volumes are anticipated to begin at an interruptible rate of up to 350 MMcf/d, dependent upon gas availability beyond existing customer obligations in Israel and Jordan. Noble Energy will have an option to convert the Tamar interruptible quantity to a firm-basis with a significant take or pay commitment. Both contracts are for a ten-year term.Gary W. Willingham, Noble Energy’s Executive Vice President, Operations, commented, “At Leviathan, we have executed agreements totaling nearly 900 MMcf/d and are closing in on our targeted sales volume amount of 1 Bcf/d. For Tamar, we now have a contract to sell any excess gas beyond current customer needs in Israel and Jordan to Egypt.“The continued progress in regional gas marketing, along with our previously announced divestiture at Tamar, are major deliverables for 2018 and we are accomplishing them very early in the year. This provides even further clarity and confidence in our expected cash flow profile for 2018 and beyond.”The gas price formula is the same under both agreements with linkage to Brent oil prices, similar to our other regional agreements. The Leviathan contract represents expected total gross revenue approaching $7 billion at recent Brent prices, with Tamar potential revenues up to a similar amount, dependent on actual volumes sold. Both agreements are subject to closing obligations including regulatory approvals and licenses, and finalizing gas transportation agreements.Noble Energy operates the Leviathan and Tamar gas fields with a 39.66 percent working interest and 32.5 percent working interest, respectively.Earlier in 2018, the company announced a 7.5 percent working interest divestment in the Tamar field which is anticipated to close in the first quarter of 2018, at which time the company’s interest in Tamar will reduce to 25 percent.