Bahrain’s Nogaholding signs for a US$570 million loan
Published by David Rowlands,
Editor
LNG Industry,
According to Reuters, Bahrain’s Nogaholding has signed for a five-year, US$570 million murabaha financing facility. This is 60% greater than the company originally planned. The money will help Nogaholding invest in a variety of energy projects in the country, including the Bahrain gas plant project and the BAPCO modernisation programme. In addition to this, Nogaholding will be able to use the money to invest an LNG import terminal.
Reuters reports that the money will be sourced from 10 institutions (local, international and regional). These include HSBC, BNP Paribas, Bank of Tokyo-Mitsubishi UFJ, Kuwait Finance House, Qatar Islamic Bank, National Bank of Bahrain, Gulf International Bank, Arab Petroleum Investments Cop., Ahli United Bank and Arab Banking Corp.
Edited from various sources by David Rowlands
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/31032016/bahrains-nogaholding-signs-for-a-us570-million-loan-2206/
You might also like
EIA: US natural gas trade will continue to grow with the start-up of new LNG export projects
The U.S. Energy Information Administration’s recently released Short-Term Energy Outlook forecasts that US LNG exports will continue to lead growth in US natural gas trade as three LNG export projects currently under construction start operations and ramp up to full production by the end of 2025.