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.