Australia's Woodside Buys 30% of Leviathan Gas Field for $1.5b

Australia's biggest oil and gas firm beats Russia's gas export monopoly Gazprom, adding itself as a major player to the LNG markets in Europe, the Middle East and Africa.

The partners in Israel's Leviathan offshore natural gas field announced yesterday that Australia's Woodside Petroleum would buy a 30% stake in the project, dealing a blow to Gazprom's ambitions to cement its position as Europe's dominant supplier and to expand in the liquefied natural gas market.