March 21, 2017 / 12:03 PM / 4 months ago

Israel's Ratio secures $400 mln to fund Leviathan natgas project

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JERUSALEM, March 21 (Reuters) -

* 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. (Reporting by Ari Rabinovitch)

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