NH Nonghyup Bank commits 81 billion won to U.S. gas pipeline construction

[Financial News] NH Nonghyup Bank supplied about $60 million (81 billion won) in funding for a natural gas pipeline construction project.
According to financial industry sources on the 15th, the construction project NH Nonghyup Bank participated in involves building a natural gas pipeline stretching a total of 598 miles and linking the Permian Basin, Agua Dulce, and Katy in Texas. The project has a total cost of about $3.4 billion and is being jointly pursued by major U.S. energy companies. Its goal is to build reliable natural gas transportation infrastructure to meet future increases in gas demand.
Through this transaction, Nonghyup Bank expanded its project finance (PF) business beyond its previous focus on LNG export terminals into midstream gas transportation infrastructure. It also laid the groundwork for expanding overseas investment by completing the transaction in cooperation with global financial institution MUFG.
Collaboration between headquarters and local operations was key to this project. Nonghyup Bank’s headquarters IB Business Division selected the expansion of U.S. infrastructure finance as a core business priority and supported it, while the IB desk assigned to the New York branch led the entire process, from identifying and pursuing the project through commitment.
Nonghyup Bank plans to strengthen its competitiveness in the U.S. infrastructure finance market by increasing its participation in follow-on transactions and expanding its role to include arranging financing.
A Nonghyup Bank official said, “This transaction is an important turning point in diversifying Nonghyup Bank’s global energy infrastructure finance portfolio,” adding, “Drawing on our accumulated project experience and global network, we will continue to grow in global project finance markets, including the U.S.”

[email protected] Seo Ji-yoon Reporter