Bahrain LNG enters the debt market

By James Gavin 4 August 2016
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An oil pump in Bahrain. The country is looking to secure financing for an LNG terminal. (PA) 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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