Middle East Economic Survey


No 29



Further Details Emerge On ELNG Train Two Financing

Further details have emerged on the financing for Egyptian LNG (ELNG) which was agreed on 5 July between BG Group and financiers (MEES, 11 July). The deals structure is similar to the financing for Train 1, which appointed its mandated lead arrangers (MLAs) in January 2003, with a focus on achieving the best pricing possible, rather than the best covenants. It appears that the mandate...