Bahrain LNG enters the debt market
4 August 2016
An oil pump in Bahrain. The country is looking to secure financing for an LNG terminal. (PA)
After a slow gestation, Bahrain’s entry to the LNG market is finally taking shape. Bahrain LNG approached banks in late July with the aim of securing $600-700 million in project finance debt.
Lender appetite could be high because the project is heavily backed with Asian export credit cover and is a vital part of Bahrain’s plan to meet demand from its gas-hungry local market.
However, it is less clear whether Bahrain LNG – the project consortium formed last year by Teekay LNG, Samsung C&T and Gulf Investment Corp. – will be able to realise the country’s longer-standing ambition to transform itself into a regional gas hub.
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