Papua New Guinea’s massive $18.3 billion liquefied natural gas (LNG) development project appears at the top of Infrastructure Investor Assets’ inaugural project finance league table, showing the top five deals of the first quarter of 2010.
Infrastructure Investor Assets is Infrastructure Investor’s companion database containing key transaction details on over 2,300 infrastructure projects across the globe that have commenced or have been financed since January 1, 2006. This includes full details of over 1,600 project loans and bonds related to these assets as well as real-time league tables of financial sponsors, lawyers and banks involved in infrastructure projects.
The $18.3 billion LNG project reached financial close in March this year with a debt package of $14 billion provided by 23 banks – six multilateral institutions and 17 commercial banks. The project intends to develop gas fields in the Southern Highlands and Western Province of Papua New Guinea and transport the gas via pipeline to an LNG facility near Port Mores, for shipment to markets overseas.
Indonesia's $1.5 billion Paiton III – an 815 megawatt, coal-fired power plant – is the quarter's second largest deal followed by France's first rail public-private partnership – the $1.36 billion GSM-R communications.
The top five are as follows:
|Project||Value (USD m)||Financial Close||Nationality||Sector|
|PNG LNG||18300.00||09-Mar-2010||Papua New Guinea||Energy|
|GSM-R Rail Telecoms Rehabilitation||1360.43||18-Feb-2010||France||Telecoms|
|GNPower Mariveles Coal Power Plant||1000.00||29-Jan-2010||Philippines||Energy|
|ENEOP 2 (Phase I)||971.87||29-Jan-2010||Portugal||Renewables|