Robin Baker

Visiting Research Fellow

Robin Baker has over 35 years’ experience in energy finance; with the Chase Manhattan Bank where he headed the Oil & Gas Group’s Asia Pacific region and subsequently with Société Générale, heading their Global Energy Finance Group. He is currently a Managing Consultant with Gas Strategies. He has been particularly active in advising and lending project finance to the energy sector and has provided financial advice to many projects throughout the energy chain; from upstream oil and gas to power generation. He has been actively involved in LNG since leading the first international LNG project finance (for Woodside’s share of the first Northwest Shelf LNG project) in 1987 and has advised LNG projects in Qatar, Egypt, Indonesia, Russia, Australia, PNG, the USA and Mozambique.  Prior to energy finance he worked in various refining and supply planning positions in the UK and Asia with the Royal Dutch/Shell Group. He has a B.Sc. in Chemical Engineering from Imperial College and an MBA from Cranfield School of Management, and is a Fellow of the Energy Institute.

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                    [post_content] => Since the 1980s the growth of the LNG business has been underpinned by third party finance, predominantly from international banks, under limited recourse project finance. Financings were also often backed by political risk cover from Export Credit Agencies. Under these arrangements the project itself borrowed money to fund its development enabling financially weaker shareholders to participate in the project. Key to the funding was the existence of reliable revenues from the project secured though long-term offtake contracts with creditworthy buyers. The LNG business is changing as it transitions from its historical structure to a more merchant structure where buyers seek greater flexibility of volumes and price, often linked to hub prices, and in many cases shorter-term contracts. With an expected 70-100 mtpa new LNG FIDs over the coming years, the question is, are lenders willing to loan funds based on these more flexible terms?

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Latest Publications by Robin Baker