Dolphin Energy plans $3.45 billion refinancing
Posted: 06 February 2006
 Send this article
 Print this article
UAE's Dolphin Energy plans to refinance a $3.45 billion bridge financing as early as October this year, a senior official said.
Head of project finance Tony Boon said Dolphin would unveil details of the proposed long-term financing at a conference in Qatar on February 28.
He declined to give details of likely pricing or tenor, but said Dolphin "will consider" some form of equity financing, a report in Gulf News said. He said Dolphin hopes to arrange the refinancing between October 2006 and March 2008.
The Dolphin Project involves developing natural gas reserves from Qatar's offshore North Field, processing the gas onshore at Qatar's Ras Laffan facility, and transporting by pipeline up to 3.2 billion cu ft a day of refined natural gas to the UAE.
Dolphin Energy Ltd is 51 per cent owned by Mubadala Development Company, an investment arm of the Abu Dhabi government, and 24.5 per cent each by Total of France and Occidental Petroleum of the United States.
In July, Dolphin closed a $3.45 billion, four-year bridge financing agreement to cover the construction costs of the project. The conventional lending facility was $2.45 billion and the Islamic financing was $1 billion.
Posted by Editor Pipeline Magazine
Information supplied by companies
or PR agencies who are responsible for content. Send press releases
to info@pipelinedubai.com |
