Dubai: Abu Dhabi-based Dolphin Energy plans to borrow at least $3.45 billion (Dh12.66 billion) to help take the company to its next phase and has appointed Royal Bank of Scotland to advise, a company source said yesterday.
“Royal Bank of Scotland is the financial adviser for the final project financing,” a Dolphin said. “It will be at least $3.45 billion, but the final amount has not been decided yet.”

The source declined to give a timeframe or say what type of financing it would be seeking.

An executive at Royal Bank of Scotland declined to comment.

The Dolphin project linking Qatar’s giant North Field with the UAE and Oman was the first cross-border gas project in the Gulf Arab region. It has pumped around two billion cubic feet a day of gas from Qatar to the UAE since February.