Leading global liquefied natural gas supplier Qatar Petroleum has begun marketing its four-tranche US dollar bonds.

Qatar Petroleum (QP) started marketing its four-tranche US dollar-denominated bonds on Wednesday, Reuters reported.

QP is offering an initial price guidance of around 80 basis points over US Treasuries for a five-year tranche bonds, 120 bps over for 10 year bonds, and 145 bps over for 20 year bonds.

It is also offering a 30-year Formosa bond at about 155 bps over US Treasuries. Formosa bonds are sold in Taiwan by foreign borrowers and denominated in currencies other than the Taiwanese dollar.

The sale could potentially be the region’s biggest debt sale this year. QP is issuing dollar bonds for the first time in 15 years as it seeks to boost output of liquefied natural gas (LNG).

QP’s last dollar bond sale was in 2006, when it raised $650 million, according to data from Bloomberg.

QP had also recently hired a group of international banks to arrange the four-tranche US dollar-denominated bond sale.

Read also: Qatar Petroleum hires international banks in billion dollar bond sale

The Qatar-owned LNG supplier hired Citi and JPMorgan, which will join BofA Securities, Deutsche Bank, Goldman Sachs, HSBC, MUFG, QNB Capital and Credit Suisse in arranging investor calls.

QP hired banks for the planned debt sale which could potentially raise up to $10 billion. The sale comes at a time when Gulf energy firms have been pushed to raise money, especially after facing the financial burdens of the Covid-19 pandemic and the collapse of oil and gas prices.