ABU DHABI, United Arab Emirates, Oct. 30 (UPI) -- The Dolphin gas pipeline from Qatar through Abu Dhabi and on to Oman will generate enough revenue for development despite the world financial crisis, banks say.
"We are reasonably confident in securing the financing. Dolphin is now operational and has an existing bank group, so that all bodes well in the current market," anonymous sources told Middle East Business Intelligence.
The Dolphin gas project is the first cross-border venture in the Cooperation Council for the Arab States of the Gulf.
A $5 billion refinancing program for the bill forecasts at least $3.5 billion in debt, but the existing backers of the project -- HSBC, Barclays Capital, Abu Dhabi Commercial Bank and others -- said they plan to move forward with the project.
