For the last decade, liquefied natural gas (LNG) mega-projects have dominated the Gulf project finance market. The ‘Qatargas Four’ project may mark the end of the current phase of LNG development in the Gulf, which started just over 10 years ago with the Qatargas One and Oman LNG projects. However, there is no sign of large-scale project activity diminishing in the near future, with high oil prices and increasing competition to secure energy resources.
The project finance market in the Middle East has evolved significantly during the last decade, as the markets have become more confident and, in turn, sponsors have become more ambitious and confident in their dealings with them.
