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    Bahrain Gets $570 mn Funding for Oil, Gas, LNG Sector

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Summary

Nogaholding, the investment and business development arm of Bahrain’s National Oil and Gas Authority (NOGA) will receive $570 million for development of large scale oil and gas projects in the country.

by: Shardul

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Asia/Oceania

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Bahrain Gets $570 mn Funding for Oil, Gas, LNG Sector

Nogaholding, the investment and business development arm of Bahrain’s National Oil and Gas Authority (NOGA) will receive $570 million for development of large scale oil and gas projects in the country.

According to state owned Bahrain News Agency, Nogaholding has signed a Sharia compliant five-year agreement.

The funds would be provided by 10 international, regional and local banks: Arab Banking Corporation (ABC), Ahli United Bank (AUB), Arab Petroleum Investments Corporation (APICORP), Gulf International Bank (GIB), and National Bank of Bahrain (NBB), Qatar Islamic Bank (QIB), Kuwait Finance House (KFH), The Bank of Tokyo-Mitsubishi UFJ (MUFG), BNP Paribas, and HSBC. 

Nogaholding plans to use the funds for BAPCO modernisation program, LNG import terminal and Bahrain gas plant project.

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