JBIC to Fund Barzan gas project

15 December 2011: The Japan Bank For International Cooperation has signed a contract to help finance Qatar’s Barzan gas project with a loan of up to $600mn (approx Rs.3,236 crore), which is earmarked for construction of a natural gas processing plant to be built by Japanese plant maker JGC Corp.

A Sumitomo Mitsui Banking Corp-led consortium will also lend the same amount for the project. The project, 70%-owned by Qatar Petroleum and 30%-owned by Exxon Mobil Corp, 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.

Source: Gulf Times