Q2 2010 league tables: Nord Stream tops projects bill

Russia’s €5.5bn Nord Stream Gas Pipeline has topped InfrastructureInvestor Assets’ projects league table for the second quarter of the year. It is the second gas project in a row to top the list, which was headed in the first quarter by Papua New Guinea’s $18.3bn liquefied natural gas development.

Gas projects continue to dominate InfrastructureInvestor Assets’ project finance league table with Russia’s massive Nord Stream Gas Pipeline project topping the list for the second quarter of 2010.

The €5.5 billion first phase of the Nord Stream project reached financial close in May with a debt package of €3.1 billion backed by more than 20 banks, including the participation of two multilaterals. E.On, Gazprom and Gasunie are some of the project’s sponsors.

Nord Stream includes the construction of a 1,220-kilometre long twin-pipeline with a combined capacity of 55 billion cubic metres a year. Construction works for its second phase are earmarked to begin in 2011. Infrastructure Investor Assets’ debut project finance league table for the first quarter of 2010 was also topped by a gas project – Papua New Guinea’s $18.3 billion liquefied natural gas development.

But transport projects figure prominently in the table, with deals like the UK’s $3.8 billion Birmingham Highways Maintenance PFI, the US’ $2.7 billion LBJ Expressway, Russia’s $2.3 billion Moscow-St. Petersburg highway PPP and Portugal’s $2.2 billion Poceirao-Caia high-speed rail line all making the top 10.

InfrastructureInvestor Assets is InfrastructureInvestor’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.