Qatar Petroleum (QP) said today it had completed the financing for its Barzan gas project.
Qatar Petroleum said in a statement that the Barzan gas project will be financed with up to 30% equity and the remaining 70% through a syndicated loan expected to total $7.2 billion.
The project will supply natural gas to power generation and water desalination plants as well as small- and medium-sized industries in Qatar.
The Barzan gas project will be completed in two phases. Train 1 is expected to be operational in 2014 and Train 2 in 2015.
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LNG World News Staff, December 13, 2011