A total of 25 banks have been contacted by the financial adviser on the project, Royal Bank of Scotland, asking that they confirm commitments on the project in the next six weeks.

The deal will include a bank tranche of $1.5bn, a $500m Islamic tranche, $1.2bn of loans from Total and Occidental, which are the sponsors on the project, and up to $350m from Italian export credit agency Servizi Assicurativi del Commercio Estero (Sace).

An additional $1bn could also be raised from capital markets, depending on market conditions (MEED 12:12:08).

The Dolphin pipeline links Qatar, the UAE and Oman. The customers for the gas include utilities Abu Dhabi Water & Electricity Company (Adwea) and Fujairah Union Water & Electricity Company.