Qatar Petroleum (QP) holds a 15 per cent stake in the company and Qatar Electricity & Water Company owns 45 per cent. The remaining 40 per cent is shared equally between Belgium’s Suez Energy International and Japan’s Mitsui & Company.
Several contracts for the Ras Laffan IWPP were also signed on 11 May. They include a 25-year power and water purchase agreement between the client, Qatar General Electricity & Water Corporation (Kahramaa), and RGPC. QP and RGPC also signed 25-year gas and seawater supply agreements.
A bank group for the financing of the project is due to be formed within days. The total financing requirement is about $3.2bn, with $1.5bn to come from the Japan Bank for International Co-operation and $300m from Italy’s Gruppo Sace.
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.