Loan for Acquisition of Interests in and Development of Coal-Bed Methane
Supporting Japanese Participation in a Coal-bed Methane Project
- Area: North America
- Energy and Natural Resources
JBIC signed a loan agreement with Toyota Tsusho Corporation. This loan will provide the necessary funds to Toyota Tsusho Corporation to enable its wholly owned Canadian subsidiary— Toyota Tsusho Wheatland Inc.—to acquire a part interest in the coal-bed methane (CBM)*1 fields in Canada from Encana Corporation, Canada's largest natural gas producer, for CBM development. This loan will help to improve Japanese know-how on CBM development and raise the ratio of Japan's independently developed energy resources, which, in turn, is expected contribute to Japan's energy security.
- *1Coal-bed methane (CBM) is methane extracted from and near coal-beds. It is drawing attention along with shale gas as “unconventional” natural gas.