Funding for giant Israeli gas field to be tapped

13 May 2017   Israel

Parties to the development of the Leviathan natural gas field off the coast of Israel said they’re ready to tap into a loan to facilitate momentum. Delek Group, alongside its partners at Avner Oil Exploration Ltd., sanctioned the giant Leviathan gas field in February and secured a loan agreement with dozens of banks, led by J.P. Morgan and HSBC, for about $1.75 billion to finance the project. In a statement Friday, Delek said the partnership aims to make its first withdrawal from the account in the coming days. “The first withdrawal funds shall be used, inter alia, for payment of the payment demands issued by the operator to the partners in the Leviathan project, as well as for the […]

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