NH Nonghyup Bank is expanding its global energy infrastructure financing by participating in a natural gas pipeline construction project in the United States.
The bank announced on October 15 that it has executed a $60 million (approximately 81 billion won) loan for the construction of a natural gas pipeline connecting Agua Dulce and Katy in Texas' Permian Basin.
This project involves the construction of a total of 598 miles of natural gas pipeline, with an overall project cost of about $3.4 billion. Major companies in the U.S. energy sector are collaborating on this initiative, aimed at enhancing natural gas transportation infrastructure to meet future demand.
With this transaction, NH Nonghyup Bank is expanding its business portfolio from primarily supporting LNG export terminals to the midstream sector of gas transportation infrastructure. By collaborating with Mitsubishi UFJ Financial Group (MUFG) to finalize the deal, the bank has also laid the groundwork for stimulating global investment.
Looking ahead, NH Nonghyup Bank plans to strengthen its competitiveness in the U.S. infrastructure finance market by increasing participation in subsequent transactions and pursuing its role as a financial intermediary.
An NH Nonghyup Bank official stated, "This transaction marks a significant turning point in diversifying our global energy infrastructure finance portfolio. We will continue to leverage our accumulated business experience and global network to achieve sustained growth in the global project finance market, including in the United States."
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.