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Project Finance

Santos taps funding for Gladstone CBM-to-LNG plant

Santos has tapped A$14 billion ($14.5 billion) from export credit agencies in Australia, Italy and Canada for a large part of funding for its Gladstone CBM-to-LNG plant in Queensland, the Australian Financial Review reported on Monday.

17 April 2012
Project Finance

Cheniere Energy Partners secure $4 bln debt financing

Cheniere Energy affiliate Cheniere Energy Partners has secured the services of eight banks to structure and arrange up to $4 billion in debt financing for development and construction of the Sabine Pass LNG liquefaction project, acquisition of the Creole Trail pipeline from parent company Cheniere Energy, and other business purposes.

17 April 2012
Project Finance

Drillers need $5 to return to gas

United States gas prices will have to rise to around $5 per million Btu (MMBtu) to lure drilling capital out of liquids-prone areas and back into dry gas plays, according to Devon Energy Chief Executive John Richels.

17 April 2012
Mergers & Acquisitions

Rosneft to get 30% stakes in three North American Exxon projects

Rosneft will receive 30% stakes in three ExxonMobil projects in the Gulf of Mexico and Canada, as part of several agreements signed between the two companies in Novo-Ogaryovo, Russia on Monday.

17 April 2012
People

Iraq will miss output targets if local capability dearth ignored

Iraq may struggle to hit its ambitious five-year oil and gas production targets as ageing equipment, lack of skilled local personnel and inadequate training institutions limit the country’s capabilities.

17 April 2012
Project Finance

Developer closing in on Hungarian UCG project funds

Australia-based developer Wildhorse Energy has come closer to securing funds for the development of the Mecsek Hills underground coal gasification (UCG) project in Hungary by selling a uranium mine in the United States for $1.4 million.

17 April 2012
Project Finance

Oil and gas deals diverge on price disparity

Quicksilver is facing two different sets of potential investors and progressing at two different speeds in its efforts to find joint venture partners in oil and gas assets

17 April 2012
Companies

Qatar Petroleum, Mowasalat to undertake CNG study

Qatar Petroleum and Mowasalat will undertake a joint study to consider using CNG to fuel public transport vehicles in Qatar, the Gulf Times reported on Monday.

16 April 2012
Companies

E.ON announces new UK retail headquarters

E.On announced on Monday that it will name its new UK retail headquarters in the city of Nottingham 'Trinity House' following suggestions from local staff.

16 April 2012
Mergers & Acquisitions

GDF Suez clinches International Power takeover

French major GDF Suez has completed its takeover of British utility International Power, having acquired the final 30% in the company it did not already own.

16 April 2012
People

Shtokman Development considers Paris cuts to slash costs

Shtokman Development is considering the possibility of closing its Paris office in order to reduce costs, an industry source told Interfax

16 April 2012
Mergers & Acquisitions

Brazil's Cosan in talks to buy BG Group's stake in Comgas

Brazil's Cosan is in talks to buy BG Group's 60% stake in the country’s gas distributor Comgas.

13 April 2012
Project Finance

EIB approached for Spanish power network upgrade

The European Investment Bank has been approached for debt financing to help fund the reinforcement and expansion of the electricity transmission network in Spain leading up to 2014. Up to €600 million ($495 million) is being sought for the €1.5 billion ($1.24 billion) project, being sponsored by Red Electrica De Espana.

13 April 2012
Project Finance

World Bank disburses funds for North Giza CCGT expansion

The World Bank is ready to disburse $240 million for the development of the Giza North gas-fired power project in Egypt. The funds will pay for the construction of a third 750 megawatt combined cycle gas turbine (CCGT) unit at the Giza North plant taking total installed generating capacity to 2,250 MW.

13 April 2012
Project Finance

IFC debt disbursed for Ivory Coast exploration

The World Bank's lending arm, the International Finance Corporation (IFC), has confirmed it will lend $20 million to Rialto Energy for exploration work in the Ivory Coast. Half of the debt will come from the IFC's central fund, with the final $10 million supplied by the multilateral agency's African, Latin American and Caribbean fund.

13 April 2012
Project Finance

Lukoil closes debt package for Uzbekistan project

Lukoil Overseas Uzbekistan, a wholly owned subsidiary of Russia's Lukoil, signed an agreement with a consortium of banks in late March to raise a loan of up to $500 million for the development of the Kandym-Khauzak-Shady project in Uzbekistan.

13 April 2012
Companies

Chesapeake to raise $2.6 billion from monetisation deals

Chesapeake is raising $2.6 billion from three monetisation deals.

13 April 2012
Mergers & Acquisitions

Marathon Oil to sell bulk of Alaska assets

US independent Marathon Oil has agreed to sell the bulk of its Alaska assets to privately held Hillcorp for an undisclosed sum.

13 April 2012
Results

India’s sovereign risk drags down ONGC, Gail ratings

Moody’s Investor Services has downgraded India’s two largest state-run oil and gas players – Oil and Natural Gas Corp. (ONGC) and Gail – as a result of the country’s weaker sovereign credit, although both companies are still rated higher than India.

13 April 2012
Mergers & Acquisitions

Browse delay gives Woodside time to find new stakeholder

The federal and Western Australian (WA) governments’ approval of Woodside Petroleum’s request to delay the Browse LNG Development’s final investment decision (FID) will make it easier for the operator to sell part of its stake, but the project and its operator are still hampered by high costs and land issues.

11 April 2012

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