Loan for Acquisition of Interests in and Development of a Floating LNG Project
Supporting Japanese Company's Participation in a Floating LNG Project

  • Area: Oceania
  • Energy and Natural Resources

JBIC signed a loan agreement with INPEX CORPORATION (INPEX). This loan will provide the necessary funds for the Australian subsidiary of INPEX to acquire a part interest in the block containing Australia's Prelude gas field from the Australian subsidiary of Royal Dutch Shell, and to extract natural gas and process it into LNG using floating LNG technology*1. By financing participation by INPEX in the world's leading floating LNG project, the loan will contribute to INPEX's acquisition of floating LNG-related know-how and expertise.
 

Note
  1. *1Floating LNG (FLNG) is a new gas development technology whereby natural gas from an offshore gas field is processed into liquid and stored on a large vessel, which is equipped with an LNG plant, then directly offloaded to an LNG carrier for shipment. Among its advantages over building onshore liquefaction plants is a lower environmental impact as there is no need to lay gas pipelines from the gas field to an onshore facility, nor to develop the coastal area. Moreover, as the floating LNG facility with the liquefaction plant can be moved, it is also seen as a potential tool for the development of small and medium scale offshore gas fields whose development to date has not been economically feasible.
Back to Top