An engineer walks in the engine room below deck on a tanker carrying liquefied natural gas in the Mediterranean, some 10 km (6 miles) from the coastal Israeli city of Hadera January 22, 2014. (REUTERS/Baz Ratner)
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Woodside Petroleum Ltd., Australia's second-biggest oil and gas producer, scrapped an agreement to buy a quarter of Israel's largest natural gas field for as much as $2.6 billion after talks to complete the deal collapsed.Woodside had been in talks with a group including Noble Energy Inc. to invest in the venture in Israel's Leviathan gas field.The deal would have put Woodside in the middle of Israel's nascent natural gas industry as the company's proposed projects in Australia face delays. While a bid for rival Oil Search Ltd. can't be ruled out, Woodside will probably look at smaller acquisitions, Macquarie analysts wrote in the May 14 report.Woodside agreed earlier this year to pay the Leviathan partners, including Delek Drilling LP, Avner Oil Exploration LLP and Ratio Oil Exploration LP, an initial $850 million.
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