Bahrain, through its Oil & Gas Holding Company (Nogaholding), aims to expand its energy activities beyond oil and gas.
Bahrain turns to energy transition
This turnaround in Nogaholding’s activities will enable Bahrain to examine the impact of climate change and diversify its energy mix,” declared Bin Daina, Bahrain’s special envoy for climate and CEO of the Bahrain Supreme Council for the Environment, on the sidelines of the ADIPEC forum.
For the time being, however, the special envoy refused to assert any development strategy for the Gulf’s most indebted country.
For their part, some regional neighbors have already decided to sell oil and gas assets and list companies on the stock exchange in order to receive investment for their transition.
At this stage, Nogaholding’s Managing Director simply states that the company is examining “all options”.
In addition, Nogaholding has raised funds on the debt capital markets on several occasions in recent years.
This fundraising is in addition to a $600 million issue of “sukuk” (Islamic bonds) in April 2021.
Bin Daina said the company could issue debt again, if necessary.
