
%0 Journal Article
%A Henschke, M. 
%T RECENT TRENDS IN PROJECT FINANCE FOR THE OIL AND GAS INDUSTRY
%J The APPEA Journal
%D 1988/06/30
%V 28
%N 1
%P 360-365
%K 
%R https://doi.org/10.1071/AJ87030
%U https://www.publish.csiro.au/paper/AJ87030 
%X The oil and gas industry has gone through an extremely difficult period in the last two years. The decline in crude oil prices of early 1986 caused great uncertainty concerning the future of the industry. As those uncertainties receded, the October 1987 collapse in equity markets resulted in new volatility in financial markets for all industries.Growth and innovation in capital markets in recent years have resulted in a broader range of alternatives for funding of project financings being available to a wider range of companies. Increased competition among banks has also impacted the costs of borrowing. Overall, the benefits for borrowers are increased flexibility and lower costs of funds.Project finance for the oil and gas industry is as important a tool as ever. From both borrowers&apos; and lenders&apos; viewpoints, its traditional elements of project assessment, and design and structuring of facilities are perhaps more important than ever. New approaches to risk mitigation are continually being sought. From a borrower&apos;s viewpoint, an important factor is the ability of banks to understand technical aspects of the industry and the elements of risk involved in new and existing projects. 
