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QP closes $10.4bn Barzan project financing

Doha , December 13, 2011

Qatar Petroleum has completed a $10.4 billion financing of its Barzan gas project, which will produce natural gas to meet the country's rising energy needs, a company statement said on Tuesday. 

The project will be funded with up to 30 percent equity and the remainder through syndicated loan expected to total $7.2 billion, the statement said.

Barzan, a joint venture between Qatar Petroleum and Exxon Mobil Corp, is Qatar's most expensive energy project since Royal Dutch Shell's $19 billion Pearl gas-to-liquids facility.




Tags: QP | Energy | Funding | natural gas | Barzan project |

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