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Project Financing for Procurement of LNG Tankers
Supporting Securement of Long and Stable Supply of LNG to Japan

  • Region: Oceania
  • Energy and Natural Resources
  • Import Loans
  • Project Finance
NR/2013-108
November 14, 2013
  1. The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed on November 13 a loan agreement totaling up to 8,542 million Japanese yen (JBIC portion) in project financing*1 with TRANS PACIFIC SHIPPING 3 S.A. (TPS3), a wholly-owned Panamanian subsidiary of Kawasaki Kisen Kaisha, Ltd. The loan is cofinanced with Mizuho Bank, Ltd. and Sumitomo Mitsui Banking Corporation, which brings the overall cofinancing amount to 12,204 million Japanese yen. 
     
  2. This loan is intended to finance TPS3 to procure a new liquefied natural gas ( LNG ) tanker to be built by Kawasaki Heavy Industries, Ltd. The LNG tanker will be used for CHUBU Electric Power Co., Inc. to transport LNG produced mainly from Australian LNG Projects to Japan. The loan will contribute to securing the long and stable supply of LNG to Japan, which is increasingly important in recent years as fuel for thermal power generation.
     
  3. As a public financial institution, JBIC will continue to actively support Japanese companies for the securing of a long and stable supply of important resources by drawing on its various financial facilities and schemes for structuring projects and performing its risk-assuming function. 
Note
  1. *1 Project finance is a financing scheme whereby repayments of a loan extended to a project rely on cash flows generated by the operation of the project, with collateral limited to project goods and other assets.

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