Loan for the Acquisition of Interests in Browse Gas and Condensate Fields
Contributing to efforts to secure a stable supply of LNG for Japan in the medium- and long-term

  • Area: Oceania
  • Energy and Natural Resources

Image courtesy of Shell
JBIC concluded a loan agreement with MITSUI & CO., Ltd. (MITSUI & CO.) to provide funds for Australia-based Japan Australia LNG (MIMI Browse) Pty Ltd (MIMI Browse), in which MITSUI & CO. has a 50% stake, to acquire 16% of interests in East Browse and 8% in West Browse, the two of which form the Browse Gas and Condensate Fields*1 off the coast of Western Australia. MIMI Browse plans to develop the gas-condensate field together with other partners including Australia-based Woodside Energy Ltd. MIMI Browse will obtain a portion of the output proportional to the above participating interests, and is expected to sell the output mainly to Japan. The agreement contributes to Japan's stable supply of LNG through the purchase of interests in natural resources by Japanese companies.
  1. *1Condensate is a hydrocarbon liquid at room temperature and atmospheric pressure obtained in the process of collection and purification of natural gas. In general lighter than oil, it is intended to be refined into gasoline, diesel, jet fuel or naphtha.
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