Excelerate CFO Nick Bedford and representatives from IFC, the Bangladeshi government, Petrobangla, and project lenders at the signing ceremony in Dhaka. Photo: Excelerate websiteInternational Finance Corporation (IFC) and Excelerate Energy Bangladesh Limited announced that they had secured debt financing to co-develop Bangladesh’s first liquefied natural gas (LNG) import terminal, estimated to cost $179.5 million. Equity for the project had been tied up earlier with IFC contributing $10.8 million and Excelerate’s equity amount of $43.1 million. The LNG import terminal, also known as the Moheshkhali Floating LNG project, is set to start construction this year and commence operation by mid-2018. DEALSTREETASIA had first reported in April that IFC will extend finance for the LNG terminal through a mix of debt and equity.

Source: Energy Bangla July 12, 2017 18:00 UTC