McCall: Proud to be associated with Barzan project
Al Khaliji Commercial Bank (al khaliji) participated in the “successful financing” of Barzan Gas Project, which received the largest direct bank financing for an energy project.
The project’s foundation stone was laid recently by HH the Heir Apparent Sheikh Tamim bin Hamad al-Thani.
The $10.4bn project is a joint venture between Qatar Petroleum and ExxonMobil to produce and process gas from Qatar’s North Field. The project is expected to supply 1.4bn cu ft per day of gas, with the first gas flow planned for late 2014.
Gas from Barzan will serve the energy requirements of power stations and industries in Qatar and go a long way in meeting the country’s growing requirements for clean-burning natural gas. Ethane produced by the project will be supplied to the country’s petrochemicals industry. However, al kahliji did not specify the details of its financing component in the Barzan project financing.
Al khaliji group chief executive officer, Robin McCall said, “We are proud and honoured to have al khaliji’s name associated with Barzan Gas, which is another important milestone in the country’s energy infrastructure development.”
With corporate and industrial clientele playing a key role in al khaliji’s growth, the bank is looking to expand its role in financing the energy sector.
“Al khaliji is more than keen to play an important role in the energy sector, and has recently extended financing to various other projects in the industrial city of Ras Laffan,” McCall said.
Headquartered in Doha has approximately QR 23.85bn in total assets and QR11.58bn in customer deposits as of  September 30, 2011.
Al khaliji is Qatar’s pioneer ‘next generation bank’ offering a full range of conventional banking products and services to retail, business, corporate and institutional customers.