BW Gas secures financing for second FRSU
International law firm Watson Farley & Williams (WFW) is among those to advise on the export credit agency backed $191.8mn post-delivery financing to a subsidiary of BW Gas in relation to BW Gas’ second FSRU, BW Integrity. The FSRU has a storage capacity in excess of 170,000 cm and a peak regasification capacity of 750mn cf/d. It will provide 600mn cf/d of regasification to state-owned Pakistan LNG Terminals, Pakistan’s second LNG terminal at Port Qasim, under a 15-year contract.
The transaction is significant as the FSRU will play a vital role in Pakistan’s plan to reduce the country’s gas deficit as well as aiming to yield large savings in annual foreign exchange, enhancing the country’s growth in economy. The deal will see Pakistan’s current LNG regasification capacity more than double.News Item details
Journal title: Petroleum Review
Countries: Pakistan -
Subjects: Banking, finance and investment, Economics, business and commerce, Liquefied natural gas, Exploration and production, Floating production facility, LNG markets, Floating Storage Regasification Units
