LNG

June 21 (LNGJ) - Ophir Energy of the UK, developer of the Equatorial Guinea floating LNG project in West Africa, said it signed a $250 million reserve-based loan facility secured against the group’s production assets in Southeast Asia. In addition to the $250M, a further $100M is available on an uncommitted basis from a group of seven international banks. The facility has a seven-year term and matures on 30 June 2024.  “The combination of existing cash, this credit facility and cash flows from operations will provide the capital for Ophir to continue to invest to maximise the cash generation of its production and development portfolio,” said Ophir’s Chief Financial Officer Tony Rouse.