DEAL: Bahrain’s first LNG

Author: Lizzie Meager | Published: 12 Jan 2017

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."...