Greece's Energean raises $1.27 billion for Israeli gas fields - WORLD OIL / BLOOMBERG

MAR/5/2018

By PAUL TUGWELL

ATHENS (Bloomberg) -- Energean Oil & Gas, Greece’s only energy explorer and producer, said it signed a financing agreement with Morgan Stanley and other banks for $1.27 billion to finance development of two natural gas fields off the coast of Israel.

Natixis SA, Bank Hapoalim and Societe Generale are also part of the deal, with first gas from Israel’s Karish field expected in early 2021, Energean said Monday in an emailed statement. The Athens-based producer may export surplus gas from Karish and a second deposit, Tanin, that it can’t sell in Israel, using planned or existing pipelines in the eastern Mediterranean region, Chief Executive Officer Mathios Rigas said by phone from London.

“The agreement is a big milestone,” Rigas said. “We are rapidly advancing the Karish and Tanin development.”

The race to develop offshore energy resources in the eastern Mediterranean has accelerated since Israel discovered the Leviathan and Tamar gas fields. Egypt is developing the giant Zohr field, with help from Italy’s Eni SpA, while Cyprus plans to produce from at least two gas deposits and Lebanon is seeking undersea reservoirs of its own. Together, the finds position the region as a potential gas-producing hub on Europe’s doorstep.

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. 

Leviathan partners raise $1.75b from international lenders - JERUSALEM POST

February 21, 2017 17:30 

Sharon Udasin

The partners signed the financing agreement with a consortium of about 20 international and Israeli lenders, led by J.P. Morgan Limited and HSBC Pank Plc.

In a key step toward furnishing Israel and its neighbors with a robust natural-gas supply, the Leviathan reservoir partners have secured $1.75 billion in loans for the basin’s development.

The partners signed the financing agreement with a consortium of about 20 international and Israeli lenders, led by J.P. Morgan Limited and HSBC Bank PLC, according to a report submitted to the Tel Aviv Stock Exchange on Tuesday morning. The funds are expected to support the A1 development stage of the Leviathan project.

Signing of an Agreement for the Financing of the Delek Group Partnerships’ Share in the Costs of Development of the Leviathan Project - DELEK GROUP

Tel Aviv, February 21, 2017. 

Delek Group (TASE: DLEKG, US ADR: DGRLY) ("the Company") announces that further to immediate report dated November 27, 2016 (Ref No. 2016-01-132058), with regard to a signature of a Commitment Letter for the signing of a financing agreement, the Compnay provides below an Immediate Report submitted by each of Delek Drilling - Limited Partnership and Avner Oil Exploration - Limited Partnership (jointly the 'Partnerships'), concerning signature of a Commitment Letter for the signing of a financing agreement for limited recourse project financing of the Partnerships' share in the development of the Leviathan project.