Masress : Israel's Tamar gets $902 mln in natgas financing

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Israel's Tamar gets $902 mln in natgas financing
A consortium of 11 local and foreign banks to finance Israel's natural gas field - Tamar, say developers

Reuters Published in Ahram Online on 22 - 04 - 2012

A group developing the Tamar field off Israel's Mediterranean coast said on Sunday they signed a $902 million financing deal for the natural gas site.
The Israeli partners in Tamar will receive the money from a consortium of 11 foreign and local banks led by Barclays and HSBC, they said in a statement to the Tel Aviv Stock Exchange.
Texas-based Noble Energy is leading the group developing the Tamar prospect, which contains an estimated 9.1 trillion cubic feet of gas, or about 250 billion cubic metres. It is set to come online in mid-2013 and be the main source of natural gas for Israel until production of the Leviathan site, with an estimated 450 million bcm begins in 2017.

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