Vopak jv signs 745 mln eur financing agreement with EIB, banking syndicate

AMSTERDAM (Thomson Financial) - Royal Vopak N.V. and N.V. Nederlandse Gasunie said their joint venture, Gate terminal B.V., has signed a 745 million euros senior financing agreement with the European Investment Bank and a banking syndicate of 10 international banks. The financial facilities will be used to finance the Liquefied Natural Gas (LNG) import and regasification terminal on the Maasvlakte near Rotterdam, where construction has recently started, the companies said in a joint note. The terminal, intended to play an important role in the future supply of natural gas to the Western-European energy market, will have initial throughput capacity of 9 billion cubic metres per year and is expected to be fully operational in the second half of 2011. The project costs are estimated at around 800 million euros, with 15 percent... [read full story]