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By Nick Flitterman

Portland assists in the drive to Net Zero

Portland assists in the drive to Net Zero

In October 2020, Portland’s Ian Cogswell participated in a workshop entitled Working Back from Net Zero.  The “Financing Net Zero” group that met during the workshop has continued to meet and formed a network, FTech2Zero, a multiorganizational network of industry experts, who have been drawn together to develop a white paper recognizing the challenges associated with financing and deploying novel technology, raising awareness, and assessing the solutions that can be adapted by both financial institutions and technology providers alike.

With less than 30 years to deliver the UK’s Net Zero ambitions it is critical to focus on measures to accelerate deployment of the technologies which are necessary to deliver net zero goals. Current estimates state that the required investment to create an integrated energy system on the UKCS alone requires investment of approximately £430 billion. It is therefore imperative that any initiative is attractive to a broad range of financial investors.

FTech2Zero has produced a survey to collect voices from the entire energy value chain to help broaden our understanding of what is needed to truly move the dial on financing net zero. The group would greatly appreciate your input on this topic via this 10-minute survey. With this survey, we are trying to collect voices from the entire energy value chain to help broaden our understanding of what is needed to truly move the dial on net zero financing.

You can also join us at the forthcoming virtual roundtable, Financing Technology to Net Zero on 7th April to discuss the survey as we form a better understanding of the current state of investment in novel technologies, as well as how companies are reacting to this transformational issue.

Please Register FREE here, it only takes a minute.

For further information, contact Ian at ian.cogswell@portlandadvisers.com or +44 20 7183 8214

By Nick Flitterman

Portland’s service during COVID-19 pandemic

Our thoughts are with our clients located in the UK and around the world at this difficult time.

We are focused on the health and safety of our consultants as well as fulfilling our commitment to you, our clients. The Portland team will continue to work on a remote basis, available as normal by email, phone, conference call and skype. You can continue to use the same contact details. These arrangements should not adversely affect the service we provide on our ongoing assignments, where we will continue to place the same emphasis on timely response times.

Furthermore, we have put in place contingency planning to ensure that we can provide an uninterrupted service in all circumstances.

Best wishes to you and your families.

 

Geoff Knox

Nick Flitterman

Frauke Bialokoz

 Managing Partners, Portland Advisers

By Nick Flitterman

Portland Wins PFI Award

Portland Wins PFI Award

The $4.6 billion debt financing for the Coral South FLNG project, where Portland acted as ECA Advisor to the export credit agencies, has been awarded “2017 Middle East & Africa Oil & Gas Deal of the Year” by Project Finance International.

Portland advised Bank of China, China Development Bank, China Eximbank, ICBC, KEXIM, KSURE, SACE and BPI (COFACE).

To discuss this further, contact Geoff Knox on +44 20 7183 8387 or geoff.knox@portlandadvisers.com

 

By Nick Flitterman

Coral South FLNG Closes

Coral South FLNG Closes

Financial close on the landmark $4.6 billion debt financing for the Coral South FLN project reached financial close yesterday.

Portland acted as ECA Advisor to Bank of China, China Eximbank, ICBC, KEXIM, KSURE, SACE and BPI (COFACE).

The project is an gas production and liquefaction development based on a floating LNG vessel offshore Mozambique. Project sponsors are Eni, CNPC, Kogas, GALP and ENH.

The project comprises the development of an offshore gas field connected to a floating gas processing, LNG liquefaction, storage and offloading vessel located above the field with a capacity of 3.5 million tonnes per annum.

To discuss this further, contact Geoff Knox on +44 20 7183 8387 or geoff.knox@portlandadvisers.com

or James Benbow on +44 20 7183 8389 or james.benbow@portlandadvisers.com

By Nick Flitterman

Portland on the BBC – Global Trade in Footballers

Portland on the BBC – Global Trade in Footballers

Following the summer of inflated transfer fees including the $260m sale of Neymar, the BBC interviewed Portland’s Head of Stadium Finance, Harry Philp on his views of the global business of football.

See the full article by clicking here.

For further information on stadium finance and sports advisory services, contact Harry directly on +44 20 7183 8392 or harry.philp@portlandadvisers.com

By Nick Flitterman

Portland Wins PFI Award

Portland Wins PFI Award

The $1.4 billion financing for the Offshore Cape Three Points project, where Portland acted as Financial Advisor to UK Export Finance, has been awarded “2016 African Oil & Gas Deal of the Year” by Project Finance International. The picture shows the UKEF and Portland team at the Awards Dinner at which the award was presented.


From left to right: Oliver Irwin (Milbank), Iain Hackston, Margaret Eyres (UKEF), Joe Shephard (UKEF), Keith O’Donnell, Frauke Bialokoz, Tim Loy (UKEF), David Craig (UKEF), Geoff Knox and Richard Simon-Lewis (UKEF).

By Nick Flitterman

Offshore Cape Three Points (OCTP) Closes

Offshore Cape Three Points (OCTP) Closes

Loan signing on the $1.35 billion limited-recourse debt financing for Vitol’s working interest in the Offshore Cape Three Points/Sankofa oil and gas project in Ghana, West Africa took place today.

The financing has a hybrid structure combining Reserve Based Lending (RBL) and Project Finance features. Debt facilities were provided by UK Export Finance (UKEF), IFC and a syndicate of commercial banks.

Portland advised UKEF throughout the negotiation and documentation of this transaction.

To discuss this further, contact Geoff Knox on +44 20 7183 8387 or geoff.knox@portlandadvisers.com or Frauke Bialokoz on +44 20 7183 8386 or frauke.bialokoz@portlandadvisers.com

By Nick Flitterman

Yamal LNG signs €200 million JBIC deal

On 15 December 2016 Yamal LNG signed a 15 year loan agreement with the Japanese Bank for International Cooperation (JBIC). Portland advised JBIC in relation to this financing. The financing is the final piece of the overall $19 billion financing for the Yamal LNG project which also comprises facilities from Chinese and Russian lenders and loans supported by SACE and COFACE. Portland advised China Development Bank, China Eximbank, EXIAR (the Russian export credit agency), SACE, COFACE and JBIC in relation to this ground-breaking financing.

For further information contact Geoff Knox on +44 20 7183 8387 or geoff.knox@portlandadvisers.com

 

By Nick Flitterman

Portland on the BBC – Champions League Final in focus

Portland on the BBC – Champions League Final in focus

Ahead of the Champions League Final, the BBC interviewed Portland’s Head of Stadium Finance, Harry Philp on his views of how financial considerations in football have become the driving force for clubs when prioritising certain competitions over other.

See the full article by clicking here.

For further information on stadium finance and sports advisory services, contact Harry directly on +44 20 7183 8392 or harry.philp@portlandadvisers.com

 

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Portland assists in the drive to Net Zero
Portland’s service during COVID-19 pandemic
Portland Wins PFI Award
Portland on the BBC – Champions League Final in focus