Regional LNG: U.S. bank approves a $930 million loan to build LNG plant in Qatar

The Export-Import Bank of the United States has agreed to extend a loan guarantee of up to $930 million to support the export of U.S. goods and services to Qatar Liquefied Gas Co. Ltd. in order to build a liquefied natural gas (LNG) project and related offshore and onshore facilities in Qatar, PR Newswire reported Friday.

U.S. exporters participating in the sale include Air Products & Chemicals, Allentown, Penn.; and ExxonMobil Development, KBR, and J. Ray McDermott, all in Houston, Tex.

The transaction is structured as a limited recourse project financing, a type of private financing where repayment is based on project revenues. Qatargas II is a special purpose company owned 70 percent by Qatar Petroleum, the state oil and gas company of Qatar, and 30 percent by ExxonMobil Corp. (*)