NH NongHyup Bank Joins U.S. Natural Gas Pipeline Financing, Says "Will Grow in Global Markets"

Provided a $60 Million Loan to U.S. Energy Companies

NH NongHyup Bank said on Oct. 15 that it had participated in a project to build a natural gas pipeline connecting Agua Dulce and Katy in Texas’ Permian Basin and had provided a loan worth $60 million (about KRW 81 billion).

The project, jointly 추진 by U.S. energy companies, involves building a 598-mile (about 962-kilometer) natural gas pipeline and has a total cost of about $3.4 billion.

The project was launched to meet growing demand for natural gas by establishing reliable transportation infrastructure.

NH NongHyup Bank said the deal marks an expansion of its capabilities from project financing (PF) focused on existing LNG export terminals into the midstream sector, which includes gas transportation infrastructure.

The deal is also seen as laying the groundwork for increased global investment, having been completed in collaboration with Mitsubishi UFJ Financial Group (MUFG), a leading global financial institution.

NH NongHyup Bank said its head office’s IB Business Division designated and supported the expansion of U.S. infrastructure as a key business priority, while the IB desk at its New York branch, staffed by employees dispatched to the United States, led the entire process, from identifying and advancing the project to finalizing the agreement, in close coordination.

A NH NongHyup Bank official said, "This deal is an important turning point in diversifying the bank’s global energy infrastructure finance portfolio. Building on our accumulated project experience and global network, we will continue to grow in the U.S. and other global project finance markets."

This content was produced with the assistance of AI translation services.