February 3, 2020 / 9:48 AM / 24 days ago

Israel's Delek expects decision on Leviathan expansion in 2020

TEL AVIV, Feb 3 (Reuters) - Israel’s Delek Drilling expects a final investment decision on expanding exports from the major gas field Leviathan this year, either with using an LNG facility in Egypt or by building a floating terminal at sea, its CEO said on Monday.

The offshore Leviathan project came online a month ago and is already supplying Egypt and Jordan with natural gas. The project is led by partners Delek and Texas-based Noble Energy .

Delek CEO Yossi Abu told a conference of investors that in order to further develop Leviathan, his company was in talks with banks for securing $2.5 billion of long-term funding, either through bank financing or bonds. (Reporting by Ari Rabinovitch Editing by Steven Scheer)

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