Project Finance for the International Petroleum Industry

This overview of project finance for the oil and gas industry covers financial markets, sources and providers of finance, financial structures, and capital raising processes. About US$300 billion of project finance debt is raised annually across several capital intensive sectors—including oil and gas, energy, infrastructure, and mining—and the oil and gas industry represents around 30% of the global project finance market.

With over 25 year’s project finance experience in international banking and industry, author Robert Clews explores project finance techniques and their effectiveness in the petroleum industry. He highlights the petroleum industry players, risks, economics, and commercial/legal arrangements. With petroleum industry projects representing amongst the largest industrial activities in the world, this book ties together concepts and tools through real examples and aims to ensure that project finance will continue to play a central role in bringing together investors and lenders to finance these ventures.

Combines the theory and practice of raising long-term funding for capital intensive projects with insights about the appeal of project finance to the international oil and gas industryIncludes case studies and examples covering projects in the Arctic, East Africa, Latin America, North America, and AustraliaEmphasizes the full downstream value chain of the industry instead of limiting itself to upstream and pipeline project financingHighlights petroleum industry players, risks, economics, and commercial and legal arrangements

Part 1: Introduction to Project Finance 1. Characteristics of Project Finance 2. Project Finance Structures and Techniques 3. Sources of Finance and the Global Project Finance Markets 4. Commercial Banks and the Practice of Syndicated Lending

PART II: The Petroleum Industry - Commercial Risks and Contracts 5. The Petroleum Industry Value Chain 6. Upstream Oil and Gas 7. Petroleum Refining 8. Pipelines, Storage and Other Infrastructure 9. Petroleum Shipping and the Offshore Industry 10. Natural Gas and LNG 11. The Petrochemicals Industry 12. Project Development in the Petroleum Industry 13. Political and Environmental Risks, Tax and Insurance

PART III: Project Finance Applied to the Petroleum Industry 14. The Role of Project Finance in the Petroleum Industry 15. Project Finance Risk Analysis and Bankability 16. Oil and Gas Project Economics and Cashflows 17. Project Finance Structuring and Terms 18. Finance Structures for Upstream, Midstream and Downstream Projects 19. Oil and Gas Project Finance Documentation