Bahrain LNG completes $741 mln syndicated loan
Project to have a capacity of 800 mln standard cubic feet per day and completion expected in 2019
Bahrain LNG, the developer of the Gulf state’s receiving and regasification terminal for liquefied natural gas (LNG), has closed a $741 million syndicated loan for the platform’s construction, according to a company statement on Monday.
“The project is being developed to supplement local gas production in Bahrain and ensure capacity to meet peak seasonal gas demand and industrial growth,” the statement said.
Standard Chartered, Arab Petroleum Investments Corp (APICORP), and Korea Development Bank were the institutions leading the limited recourse project financing, which was provided by nine international and regional lenders.
About 80 percent of the financing was backed by commercial and political risk cover provided by export credit agency Korea Trade Insurance Corporation.
The LNG project will have a capacity of 800 million standard cubic feet per day. Completion is expected in 2019, after which the project will be operated under a 20-year agreement.
Qatar to merge LNG producers Qatargas and RasGasTransition to be complete by end-2017, says Qatar Petroleum CEO Energy
Qatar Petroleum affiliate signs LNG deal with Brazil-based CELSEUnder the deal, Qatar will ship 1.3 million tonnes of LNG per year on an Ex-Ship ... Energy
Africa could be significant LNG importer by 2025: TotalCairo could be importing between 15 million-20 million tons annually within a ... Energy
Russia considers LNG supplies to BahrainRosgeologiya and Noga have also signed a memorandum to strengthen their ... Energy