Energy and Natural Resource Financing for the Project of Liquefying CBM in Queensland
Supporting a Japanese Gas Company’s Participation in the CBM-LNG Project
- Area: Oceania
- Energy and Natural Resources
JBIC signed a loan agreement with Tokyo Gas Co., Ltd. (Tokyo Gas) for the acquisition of upstream interests and the liquefaction train of coal-bed methane (CBM)*1 gas produced on Curtis Island off the coast of Gladstone, Queensland, from the CBM gas field in the Surat basin of the same state. This is the first loan provided by JBIC for the CBM-LNG project. Tokyo Gas plans to import 1.2 million tons of LNG from multiple LNG sources, including this project, in the next 20 years from 2015.
- *1Coal-bed Methane is a form of natural gas extracted from coal beds, and is becoming popular as non-conventional natural gas, along with shale gas.