Cristin-resultat-ID: 1041660
Sist endret: 12. mars 2014, 18:37
NVI-rapporteringsår: 2013
Resultat
Vitenskapelig artikkel
2013

Capital structure in LNG infrastructures and gas pipelines projects: Empirical evidences and methodological issues

Bidragsytere:
  • Axel Pierru
  • Simon Roussanaly og
  • Jerome Sabathier

Tidsskrift

Energy Policy
ISSN 0301-4215
e-ISSN 1873-6777
NVI-nivå 1

Om resultatet

Vitenskapelig artikkel
Publiseringsår: 2013
Publisert online: 2013
Volum: 61
Sider: 285 - 291

Importkilder

Scopus-ID: 2-s2.0-84881663372
Isi-ID: 000325443500029

Beskrivelse Beskrivelse

Tittel

Capital structure in LNG infrastructures and gas pipelines projects: Empirical evidences and methodological issues

Sammendrag

This paper provides new empirical insights on the capital structure of project-financed LNG infrastructures and gas pipeline projects, by using data relating to projects whose financial close occurred between June 2004 and March 2011. Most results are consistent with the basic view of risk-averse funds suppliers. Especially, the projects located in risky countries and larger projects tend to exhibit lower debt ratios and less-concentrated equity ownerships. In addition, regasification projects appear to have a more diluted equity ownership. Methodological issues raised by the financing of these projects are also examined from a capital-budgeting perspective. In particular, the equity residual method, usually used by industrial practitioners to value these projects, should be adjusted. © 2013 Elsevier Ltd. All rights reserved.

Bidragsytere

Axel Pierru

  • Tilknyttet:
    Forfatter
    ved King Abdullah University of Science and Technology

Simon Roussanaly

  • Tilknyttet:
    Forfatter
    ved Gassteknologi ved SINTEF Energi AS

Jerome Sabathier

  • Tilknyttet:
    Forfatter
    ved IFP Energies nouvelles
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