Project Insights

Bahrain LNG enters the debt market

Bahrain LNG is putting out feelers to find financing as the island kingdom looks to keep pace with its increasing gas demand Bahrain LNG is putting out feelers to find financing as the island kingdom looks to keep pace with its increasing gas demand.

By James Gavin 4 August 2016 Middle East & Africa / LNG 0 21378

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...