Doha bank explores all potentials for energy finacial services across, GCC, India, Med, Africa and SE Europe. GCC should develop infrastructure bond-market to finance large scale energy projects, especially for gas -to- power projects. Qatar, GCC should develop infrastructure bond-market for project finance, says Doha Bank CEO. For banks to have a framework to address project-and contract-financing challenges, there is a need for the development of GCC Bond Market to bring more investors as an additional source of project financing, Doha Bank CEO Dr. Seetharaman has said.
Project entities can issue bonds during the construction phase, and banks refinance the bonds upon projects getting operational. On the whole, Qatar and GCC should develop infrastructure bond market for project finance,” he explained in the presentation “Financing Qatar’s Project Market in Uncertain Times.” Seetharaman also highlighted on key challenges faced in projects-and contract-financing in the GCC.
Doha bank, IL&FS (IEDCL) Energy Development Company and QCIP have signed a Memorandum for a strategic business cooperation in the field of LNG/NG supply, setting up the LNG storage & regasification facilities, marketing and distribution of regasified LNG/NG and setting up of Gas based Power generation facilities & trading of Electricity, as well as, related infrastructures projects. The total budget of the project in full development is close to US$ 9.6 billions and PowerGlobe LLC (Qatar Financial Centre) as the major selected Energy Advisor of the Integrated SEZ & Maritime Complex at Nana Layja (Kutch, Gujarat) project. ”Each Party has various interests in the Field, in the region of India and Asia in general, so the Parties wish to examine together potential opportunities, exploit the synergies and to cooperate in order for both of them to join their forces and efforts and to collaborate and mutually achieve their business goals and interests in the field so as to enable them to develop their businesses more effectively and to take advantage of the opportunities arising in the Field throughout the Asia region”.
Dr. Theodore Theodoropoulos is the official Energy Advisor for Doha Bank Group (VP DB Group) and MD for Doha Bank Energy Fund. Additionally, Dr. Seetharaman has expressed his support for energy project in Med and SE Europe especially for LNG facilities, gas -to- power projects and renewable energy ventures. ”If the future conditions allows soon will see a Doha Bank full operating branch in Athens and rep office Nicosia. God bless Dr. Theodore will assist our cross-border finance solutions in Med and SE Europe” Dr. Seetharaman said. Doha Bank Group currently having a presence in selected cities around the world and its international banking group delivers the full range of cross-border finance solutions through its four distinct units – the international banking unit, correspondent banking unit, the syndication unit and the expatriate banking services unit.Furtermore, he highlighted the role of PowerGlobe LLC (Qatar Financial Centre) in the future energy arena, especially for large-scale gas to power project developments and LNG onshore and offshore facilities across Asia (India, Pakistan, China), Africa (Marocco, Egypt, Senegal, Angola), and Europe (SEE, Med, Black Sea, Turkey). PowerGlobe LLC is the official Energy Advisor for Doha Bank Group across GCC, Africa, Asia and Europe. ”In Particular, the Parties have to cooperate initially for the development and operation of an Integrated SEZ & Maritime Complex at Nana Layja / Kutch, Gujarat (including LNG/NG supply, setting up LNG import terminal, LNG storage and regasification units, NG infrastructure, industrial & downstream facilities, marketing & distribution of regasified LNG/NG and setting up gas based power generation facilities & electricity trading) in two (2) phases”, said Mr. Hari Sankaran, Chairman of IL@FS Energy Group.
IEDCL is the largest state energy-infrastructure company in India. The company promoted by Infrastructure Leasing & Financial Services Limited, to identify, develop, implement, operate and maintain both conventional (coal based, hydro, gas based, etc.) and non-conventional (wind, tidal, bagasse, bio-gas, geothermal, solar, etc.) power projects through study/surveys and investigations, preparation of feasibility reports, environmental and resettlement and rehabilitation reports or such other reports as may be required, entering into project agreements with various agencies, entering into EPC and O&M agreements, arranging equity and debts funds to finance the projects. QCIP is a company which is active in the industry of energy, specialized in marketing and trading LNG/Natural Gas, consulting and supporting services, as well as intermediary services, in order to facilitate and achieve international investments and all kinds of related business transactions.
Regarding the Qatar’s banking sector, Seetharaman said: “Qatar banking balance sheet growth was more than 10% YTD in December 2015 and loan growth was more than 15% YTD. In 2015, the contracting sector growth was more than 23% YTD. The concerns on the economy include slowdown in growth, tightening of liquidity, surge in borrowing cost, and uncertainty over the determination of cash flows throughout the project cycle.”
Sources: QGN, Gulf Agencies, Bloomberg, DB, QFC, BBC News, Reuters.