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Host Country: Mozambique |
Industry/Sector: Energy |
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Sponsor: Eni Mozambique LNG Holdings B.V., ExxonMobil Africa and Middle East Holdings B.V.,CNODC Mozambique B.V.,ENH Floating LNG 1 S.A., GALP Mozambique; and Kogas Mozambique |
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Borrower: Coral South FLNG DMCC（SPV） |
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Total Investment : USD 10bln |
Debt Amount: USD 4bln |
Financing Terms:
Non-recourse Project Financing |
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Purpose of Financing: |
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The project plans to construct: A Floating LNG with integrated gas treatment, liquefaction,storage and offloading systems. |
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Guarantee Structure: |
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Customary security package project financing |
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Participating Banks and Roles: |
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This milestone deal has attracted Chinese and many non-Chinese sponsors and hence the ECAs include China EXIM, KEXIM, KSURE, BPI and SACE. More than 10 international banks have joined the deal and China EXIM acted as the pathfinder in this syndication, supporting CNPC’s venture into LNG business overseas. |
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Overview and Highlight of Project: |
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Coral South FLNG Project is a world-class FLNG exploration project. The project aims to monetize the gas discoveries contained in the southern part of the Area 4 Block. The Area 4 Block is located in the deep waters of the Rovuma Basin, offshore the north-east coast of Mozambique.
The project plans to construct: A Floating LNG with integrated gas treatment, liquefaction, storage and offloading systems.
The sponsors of project are leading O&G companies which enjoy world-class reputation, including: Eni Mozambique LNG Holdings B.V. , ExxonMobil Africa and Middle East Holdings B.V., CNODC Mozambique B.V. , ENH Floating LNG 1 S.A., GALP Mozambique and Kogas Mozambique.
The project is a typical non-recourse Project Financing. This milestone deal has attracted Chinese and many non-Chinese sponsors and hence the ECAs include China EXIM, KEXIM, KSURE, BPI and SACE.
This meaningful deal is the only project finance which reached FID in 2017 and won several remarkable honors including: PFI Awards 2017, GTR 2017 Best Deals, IJ Global Awards 2017. |
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Awards or Public Evaluation: |
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This meaningful deal is the only project finance which reached FID in 2017 and won several remarkable honors including: PFI Awards 2017, GTR 2017 Best Deals, IJ Global Awards 2017. |
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Other Information: |
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N/A |
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