Energy trader and gas carrier owner BGN has successfully doubled its revolving credit facility to $232.5 million, receiving support from the Abu Dhabi Exports Office (ADEX) and First Abu Dhabi Bank (FAB). This significant increase in funding reflects the strong confidence from lenders in BGN’s operations and growth potential.

The original facility was set at $100 million, with a target of $120 million. The oversubscription of this facility indicates a notable shift in regional trade finance, as BGN highlighted the incorporation of an innovative Murabaha tranche specifically designed to accommodate Islamic Banks.

This development is seen as a pivotal moment in enhancing trade finance options for companies operating in the region, further establishing BGN’s position within the energy trading sector.