Tuesday, March 21, 2017

Israel's Ratio secures $400 mln to fund Leviathan natgas project - REUTERS

JERUSALEM (Reuters), Tue Mar 21, 2017 | 8:02am EDTAri Rabinovitch

Ratio Oil said on Tuesday it has secured up to $400 million to finance its share in the development of the large Leviathan natural gas field offshore Israel.

Ratio holds a 15 percent stake in Leviathan, together with Israel's Delek Group, which has a 45.34 percent share and operator Noble Energy, which holds a 39.66 percent stake.

The partners have approved a first-phase budget of $3.75 billion dollars.

Ratio said it signed financing agreements with a consortium of local and foreign groups, including HSBC and BNP Paribas.