al khaliji takes part in Barzan Gas Project funding
TRIBUNE NEWS NETWORK
DOHA AL KHALIJ Commercial Bank (al khaliji) QSC participated in the successful financing of Barzan Gas Project, which was inaugurated recently by the Heir Apparent HH Sheikh Tamim bin Hamad al Thani, said a press release from the bank on Wednesday.
The Barzan project received the largest direct bank financing amongst energy projects.
The $10.4 billion project is a joint venture between Qatar Petroleum and ExxonMobil to produce and process gas from Qatar’s North Field. The project is expected to supply 1.4 billion cubic feet per day of gas, with the first gas flow planned for late 2014.
The gas produced by Barzan will serve the energy requirements of power stations and industries in Qatar and go a long way in meeting the country’s growing requirements for clean-burning natural gas. The ethane produced by the project will be supplied to the country’s petrochemicals industry.
al khaliji Group Chief Executive Officer Robin McCall said, “We are proud and honoured to have al khaliji’s name associated with Barzan Gas, which is another important milestone in the country’s energy infrastructure development.”