State Qatar Petroleum (QP) has completed the financing for its $10.4 billion Barzan domestic gas project, a joint venture with Exxon Mobil, QP announced on Tuesday. The project will be financed with up to 30% equity, and the remaining 70% in the form of a syndicated loan expected to total around $7.2 billion, the company said in a statement. Barzan aims to supply 1.4 Bcf/d of gas starting in 2014. Gas will be sold to local power stations and businesses, ethane to the petrochemicals industry, and associated liquids both locally and abroad.
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