NH NongHyup Bank announced on the 15th that it has participated in a natural gas pipeline construction project in the Permian Basin in Texas, the United States, and executed a loan totaling USD 60 million (approximately KRW 81.0 billion).
According to NongHyup Bank, the project involves the construction of a total of 598 miles of natural gas pipelines. The goal is to connect the Agua Dulce area and the Katy area in Texas. The total project size is about USD 3.4 billion (approximately KRW 4.6 trillion). Leading companies in the U.S. energy industry are jointly promoting the project.
A NongHyup Bank official said of the significance of participating in the project, “NongHyup Bank has expanded its capabilities from conventional project financing (PF) focused on liquefied natural gas (LNG) export terminals to the midstream segment of gas transportation infrastructure,” adding, “By successfully closing the deal in collaboration with global financial institution MUFG, the bank has also laid a foundation for invigorating global investment.”
NongHyup Bank said it achieved results through an organic cooperation structure between headquarters and local operations. It aims to enhance its competitiveness in the U.S. infrastructure finance market by expanding participation in follow-up transactions.
A NongHyup Bank official stated, “This transaction is an important turning point in diversifying NongHyup Bank’s global energy infrastructure finance portfolio,” and added, “Based on its accumulated project experience and global network, the bank will continue to pursue sustained growth in the global project finance market, including the United States.”
Jeong Bong-o
AI-translated with ChatGPT. Provided as is; original Korean text prevails.
ⓒ dongA.com. All rights reserved. Reproduction, redistribution, or use for AI training prohibited.
