JBIC concluded a project finance*1 loan agreement for Indonesia-based PT. Donggi-Senoro LNG (Donggi-Senoro), in which Mitsubishi Corporation (MC), Korea Gas Corporation, PT. Pertamina (Persero), the state oil company of Indonesia and Indonesia-based PT. Medco Energi Internasional Tbk. have equity stakes. The financing provides the necessary funds for Donggi-Senoro LNG to construct and operate a liquefied natural gas (LNG) plant with an annual production capacity of two million tons in the central part of the eastern coast of Sulawesi Island, Indonesia, and to supply the LNG produced at the plant to Japanese power companies and others over 13 years.
JBIC also concluded a loan agreement with MC that provides the necessary funds not only to develop upstream gas fields to supply LNG to the Donggi-Senoro LNG project, but also to undertake the Donggi-Senoro two Project.
- *1 Project finance is a financing scheme in which repayments are made solely from cash flows generated by the project and secured only by the project assets.