Loan for the Acquisition of Interests and Development of Shale Gas Project
Contributing to the diversification of LNG supplies for Japan

  • Area: North America
  • Energy and Natural Resources

Image courtesy of JAPEX
JBIC concluded a loan agreement with Canada-based JAPEX Montney Ltd. (JML), which is owned by Japan Petroleum Exploration Co., Ltd. (JAPEX), Japan Oil, Gas and Metals National Corporation, and MITSUBISHI GAS CHEMICAL COMPANY, INC. The financing provides the necessary funds for JML to acquire 10% of the shale gas mining rights in British Columbia, Canada, owned by a subsidiary of Malaysia's Petroliam Nasional Berhad (PETRONAS), and to develop and produce shale gas. With vast reserves of shale gas, Canada has substantial potential as a new supplier of LNG to Asian and Pacific markets. JML is planning to convert the natural gas produced through this project into LNG at a liquefaction plant to be built on the west coast of British Columbia, and export the LNG to Asia, including Japan. The project is expected to contribute to the diversification of LNG sources for Japan.
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