An Israeli group developing the controversial Tamar field off Occupied Palestine’s Mediterranean coast signed a $902 million financing deal for the natural gas site

An Israeli group developing the controversial Tamar field off Occupied Palestine'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 meters, Reuters said. It is set to come online in mid-2013.

Lebanon stresses that it has rights in the ownership of Tamar field, located in a part of the economic zone of Lebanon, which the Zionist entity didn’t recognize. The field is located roughly 80 kilometers west of Haifa and is one of the groups of gas fields discovered in the Mediterranean in recent years.