May 21, 2018

Anadarko aims to raise $14-15bn for LNG project in Mozambique

Asia
Africa
Sophie Chapman
2 min
The US-based gas company, Anadarko Petroleum, has announced that it is looking to raise between $14-15bn for its liquefied...

The US-based gas company, Anadarko Petroleum, has announced that it is looking to raise between $14-15bn for its liquefied natural gas (LNG) project in Mozambique.

The firm aims to raise the financing from banks and export credit agencies, Reuters reported.

Mozambique’s LNG potential is yet to be fully explored, allowing for Anadarko to develop its $20bn project on such a large scale.

The funding for the project, if it reaches the full desired amount, will be the largest loan ever seen in the LNG industry.

The gas firm are reassured about the scale of the project due to the increased demand from China and Southeast Asia for the fuel alternative, with governments implementing stricter gas regulations.

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“There’s enough meat on the bones of the project in terms of supply deals to start sounding out banks,” Reuters reported from a source close to the project.

Societe Generale, the French bank, has been appointed as financial adviser for the project and has already received $12bn worth of interest from export credit agencies in Japan, China, Italy, and South Africa.

“Our target is to raise financing equivalent to approximately two-thirds of the expected capital costs, which, if successful, would represent the largest project financing ever in Africa and one of the largest globally for a non-OECD country,” noted Helen Wells, a spokesperson for Anadarko Petroleum.

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May 6, 2021

Global Offshore rebrands Enelift and invests in global hubs

Tubulars
rebrand
Globalhubs
Dominic Ellis
2 min
Enelift plans to augment existing solutions with robotics and remote operational and training technology

Global Offshore has rebranded Enelift and will invest "a seven-figure sum" in establishing new support hubs in Houston, Dubai, Singapore, Perth and the Caspian during the next six months.

The investment will cover oil, gas and renewables, mainly concentrating on manufacturing capability with associated R&D, as well as in stock held in the hubs.

The company’s flagship Hinge Lok technology provides aluminium, non-welded light weight transportation cradle for casing and tubing. Enelift now plans to enhance its offering by augmenting its existing solutions with robotics and remote operational and training technology, which will reduce manpower for handling offshore equipment that is transported and stored using the Hinge Lok system.

Enelift is partnering with "a Japanese robotics company" and the technology will be trialed with "a Norwegian operator on a Norwegian drilling rig", according to a statement.

Operating from its bases in Aberdeen, UK and Esbjerg, Enelift was founded by 35-year industry veteran and Managing Director Paul Brebner 10 years ago to offer the offshore energy industries safe, reliable and efficient storage and transportation of equipment.

The expansion plans are bolstered by the appointment of Jim Clark of the Craigendarroch Group to Chairman, and Adam Maitland to Non-Executive Director. Maitland is the Managing Director of Hutcheon Mearns IF, and brings his wealth of expertise in the field of corporate finance.

Brebner said Enelift may be a new name in the market, but the experience it brings is "industry renowned".

"Our solutions are underpinned by safety that enables inefficiencies and their associated costs to be eradicated – meaning operational personnel can focus doing what they do best, safely. We remain committed to providing the safest storage and transportation solutions for equipment in the sector as we grow our global operations," he said.

Clark said the market is changing and its solutions fully support customers’ economic and safety aspirations.

"We are very well placed to take full advantage of increasing opportunities in the Middle East, Africa, Far East and Americas. Safety is our absolute commitment to our customers and our support hubs will facilitate this. Aligning our identity to our entire offering ensures that we will drive our expansion through new products and global support sites across the rest of this year."

 

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