Reuters – Israeli Leviathan partners get up to $1.75 billion HSBC, JPMorgan financing
27 November 2016
The main Israeli partners developing the large Leviathan natural gas site said on Sunday they signed commitment letters with HSBC and J.P. Morgan for up to $1.75 billion of financing.
Delek Drilling and Avner Oil Exploration said the funds would go towards the A1 development stage of the project.
Delek and Avner, units of conglomerate Delek Group, hold a combined 45.3 percent of Leviathan. Texas-based Noble Energy owns nearly 40 percent.
Leviathan, which is expected to start production in 2019 or 2020, was discovered in the eastern Mediterranean in 2010. Much of its 622 cubic meters of natural gas is earmarked for exports.