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The group developing Israel's giant Leviathan gas field is running out of time to clinch binding major supply deals with Egypt and Jordan to ensure government support for developing the resource before a November deadline.Talks with companies, such as Britain's BG Group, which wants to bring in Israeli gas to feed its Egyptian liquefied natural gas (LNG) export plants, hinge on difficult commercial negotiations.Leviathan's estimated gas reserves of 622 billion cubic meters (bcm) are far too large for Israel's domestic use, making export deals critical to the project's viability, with first phase development costs estimated at $6 billion.Only the Palestinian Authority has so far committed to buying gas, agreeing a 20-year deal worth $1.2 billionThe Leviathan group did reach a tentative agreement with BG in June that would involve exporting 7 bcm of gas a year over 15 years to an LNG export plant in Idku, Egypt.
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