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Leviathan Partners Said in Talks to Secure Up to $4 Billion

  • Also said in talks to supply Turkey with $2 billion of gas/yr
  • Partners said negotiating with banks to secure 65% of funding
Updated on

The partners in Israel’s Leviathan natural gas find are seeking to raise as much as $4 billion to develop the offshore field and are in talks with banks on funding plans, two people with knowledge of the matter said.

Noble Energy Inc. of the U.S. and Israel’s Delek Group Ltd and Ratio Oil Exploration 1992 are seeking to raise between $3.5 billion and $4 billion, the people said, asking not to be identified as the talks are private. The partners will secure their slices of the funds in proportion to their ownership of the Leviathan field, the people said. Delek owns 45 percent through its units, Delek Drilling LP and Avner Oil Exploration LLP, while Noble owns 40 percent. Ratio holds a 15 percent stake.