Standard Post with Image

JBIC to Lend USD 600 million to Barzan Gas Project

  • Gulf Time reported that the Japan Bank For International Cooperation had signed a contract to help finance Qatar’s Barzan gas project with a loan of up to USD 600 million earmarked for construction of a natural gas processing plant to be built by Japanese plant maker JGC Corp.
  • JBIC said in a statement that a Sumitomo Mitsui Banking Corporation led consortium will lend the project another USD 600 million. The Barzan project, 70% owned by Qatar Petroleum and 30% owned by Exxon Mobil Corporation will pipe natural gas produced from the North Field offshore reserves to the industrial city of Ras Laffan in Qatar. JGC received an order to build the gas processing plant in Ras Laffan in January. JBIC hopes that by making the loan it will stimulate orders for Japanese plants.

Source