Israel's Ratio Q3 profit jumps on strong gas sales from Leviathan

JERUSALEM, Nov 30 (Reuters) - Israel's Ratio Energies RATIp.TA reported on Wednesday a jump in third-quarter profit on high demand for natural gas from the offshore Leviathan project.

Ratio holds a 15% stake in the Leviathan gas field, which supplies gas to Israel, Jordan and Egypt.

The company reported a quarterly net profit of $45 million, versus $8 million a year ago. Revenue for the quarter rose 31% to $106 million.

During the July-September period, 3 billion cubic meters of gas were sold from Leviathan, two thirds going to Egypt and Jordan and the rest sold locally.

"We intend to continue the distribution of profits in the next quarter based on the financial results of 2022," said CEO Yigal Landau.

(Reporting by Ari Rabinovitch Editing by Steven Scheer)

((ari.rabinovitch@thomsonreuters.com; +972-2-632-2202; Reuters Messaging: ari.rabinovitch@thomsonreuters.com@reuters.net))

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