MenuClose

  • JP
  • SearchClose
Home
About JBIC
About JBIC

This page introduces information on JBIC's role and organization.

Close

Support Menu
Support Menu

JBIC offers a range of financial products and other services to our clients.

Close

Business Areas
Business Areas

Information about JBIC's activities in each business area and its efforts for environmental conservation.

Close

Public Information
Public Information

Various reports compiled and contributed by JBIC

Close

Press Releases
Press Releases

Close

Investor Relations
Investor Relations

This page introduces information on JBIC's investor relations.

Close

Loan for CBM Gas Field Development of Queensland Curtis LNG Project in Australia
Securing Stable Supply of Energy Resources to Japan through Supporting Japanese Company's Participation in the CBM-LNG Project

  • Region: Oceania
  • Energy and Natural Resources
  • Overseas Investment Loans

March 31, 2014
  1. The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed on March 28, a loan agreement totaling up to USD126 million with Toyota Tsusho Corporation (Toyota Tsusho). The loan is cofinanced with The Bank of Tokyo-Mitsubishi UFJ, Ltd. and Sumitomo Mitsui Banking Corporation, which brings the overall cofinancing amount equivalent to approximately USD210 million. 
     
  2. This loan will finance the development of a coal-bed methane (CBM) gas field in the Surat Basin in Queensland, Australia, which Toyota Tsusho acquired 15% interests through its wholly owned Australian subsidiary, with Tokyo Gas Co., Ltd. (Tokyo Gas), BG Group Plc (BG Group), a company incorporated in the United Kingdom, and China National Offshore Oil Corporation (CNOOC), a company incorporated in the People's Republic of China. 
     
  3. CBM from the gas field will be sold to BG Group on a long term basis, as feed gas for the Queensland Curtis LNG Project (QCLNG) *1promoted by BG Group and Tokyo Gas. Tokyo Gas has concluded a long-term sales and purchase agreement with BG Group to take an annual delivery of 1.2 million-tons of LNG over 20 years starting in 2015. Also, Chubu Electric Power Co., Inc. is expected to receive LNG, including LNG from the QCLNG project, based on a long-term purchase agreement with BG Group.
     
  4. The loan, which financially supports an upstream development of overseas LNG projects of Japanese companies, will help to accumulate the knowledge and experience of CBM business and to expand business opportunities of Japanese companies in overseas CBM development. Thus, the loan contributes to Japan's energy security through the increase of in-house development ratio by Japanese companies and the diversification of unconventional energy sources. 
     
  5. As Japan's policy-based financial institution, JBIC will continue to financially support the promotion of acquisition of interests and development of energy resources by Japanese companies, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.
Note
  1. *1 On the QCLNG project, JBIC signed a loan agreement totaling up to USD175 million (JBIC portion) with Tokyo Gas Co., Ltd. on September 14, 2011. For the details, see a press release on September 15, 2011.

Search press releases

Fiscal Years
Sectors
Region
Finance Menu