14 Dec 2011
(MENAFN) Qatar Petroleum said that it arranged financing for the USD10.4 billion Barzan Gas Project, which was being built with Exxon Mobil, reported Emirates 24/7.
The firm added that the huge plant was designed to produce around 1.4 billion cubic feet of gas a day, in order to meet increasing demand in the country.
It also said that the company would pay for the project through equity and around USD7.2 billion in bank loans and government-backed export credit funding Qatar Petroleum has secured.
It is worth noting that the financing will be one of the oil industry’s largest ever financing packages.
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