Greek energy firm Energean has secured $1.25 billion in funding for the development of two natural gas fields offshore Israel, the company’s CEO said on Feb. 27.

The company signed commitment letters with Morgan Stanley (NYSE: MS), French investment bank Natixis and Israel’s Bank Hapoalim, CEO Mathios Rigas told an energy conference in Tel Aviv, according to an official transcript.

Energean hopes to begin production at the Karish and Tanin fields, which contain an estimated 2.4 trillion cubic feet of natural gas, in 2021. The company is also planning to raise $500 million in an IPO in London.