Middle East Economic Survey

VOL. XLVIII

No 49

5-December-2005

GCC

Clubs Vs Classic Underwriting: Low Margins Highlight Gulf Project Financing Format

The diminishing profits that banks are making on Gulf energy project financings are putting the spotlight on deal format, and banks are questioning whether the current fashion to club deals is an improvement on the classic underwriting that was popular a few years ago. Melanie Lovatt reports.

Gulf energy project finance is a buyers market and banks are...