State-owned QatarEnergy has secured a five-year $3-billion loan from a group of Chinese banks as Qatar’s LNG exporter continues to struggle with shipping sizeable volumes to international markets. QatarEnergy has secured the loan from Bank of China, Industrial and Commercial Bank of China Limited (ICBC), Agricultural Bank of China (ABC), and China Construction Bank (Asia), anonymous sources with knowledge of the agreement told Bloomberg on Wednesday.
The loan suggests that China continues to back companies in the Persian Gulf with funding…