Middle East Economic Survey

VOL. LIV

No 41

10-Oct-2011

Barzan $10Bn Gas Project Financing Attracts 30 Banks

Qatars 1.4bn cfd capacity Barzan gas/NGL project has attracted 30 banks to its financing, coming in oversubscribed, and the pricing on the deal matches the lowest seen in the Gulf post-credit crunch, MEES learns. Given its strong sponsors (Qatar Petroleum owns 93% and ExxonMobil 7%), the deal was expected to secure attractive margins, but this is nevertheless a good result given the...