AMSTERDAM May 8 British oil and gas explorer
Ophir Energy will tap Chinese banks for $1.2 billion in
loans to underpin development of its Fortuna floating liquefied
natural gas (FLNG) export project in Equatorial Guinea, its CEO
Nick Cooper said on Monday.
The project is set to be cleared at the end of June, while
the buyer of the LNG and the financial structure underpinning
the scheme should be announced by the end of this month, Cooper
said at an industry conference in Amsterdam.
The choice of Chinese banks reflected the unwillingness of
Western institutions to back the project, Cooper said.
"We're close to closing that out," he said in reference to
the loan deals.
(Reporting by Oleg Vukmanovic, editing by Louise Heavens)