The financing for Bahrain’s first ever
liquefied natural gas (LNG) import terminal project has reached
financial close, with further expansion planned.
This stage of the project, which is also the Middle
East’s first LNG receiving and regasification
terminal to be financed on a public-private partnership (PPP)
basis, was done without a designated PPP law.
Nogaholding, the business development arm of the National
Oil & Gas Authority, owns 30% of Bahrain
LNG, the project’s developer and owner, with a
consortium of both onshore and offshore companies including
Samsung C&T and Gulf Investment Corporation.
"Getting the shipping world and onshore world together like
this is highly unusual, but has proven successful on this
occasion," said Nick Prowse, partner at Norton Rose Fulbright
who advised Nogaholding. "This infrastructure will give Bahrain
more security of supply in the future."...