JBIC Signs Facility Agreement and MOU with Abu Dhabi National Oil Company of UAE
Contributing toward Securing Long-Term Stable Supply of Crude Oil by Strengthening Strategic Partnership with ADNOC Group

• Region: The Middle East
• Energy and Natural Resources
• Import Loans

1. The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed on September 30 a facility agreement amounting to up to USD1.8 billion (JBIC portions) with Abu Dhabi National Oil Company (ADNOC) in the United Arab Emirates. The facility is co-financed by Mizuho Bank, Ltd. (agent bank) and the Tokyo Branch of Hongkong and Shanghai Banking Corporation Limited (HSBC), bringing the total co-financing amount to USD3 billion.
     
2. JBIC also signed on November 4 a Memorandum of Understanding (MOU) with ADNOC aimed to further strengthen the comprehensive strategic partnership in sectors that are global and broadly cover the energy value chain. The signing of the MOU was done at Abu Dhabi International Petroleum Exhibition and Conference 2025 (ADIPEC 2025), held in Abu Dhabi, UAE.
     
3. ADNOC is a state-run oil company wholly owned by the Emirate of Abu Dhabi. This facility is intended to provide necessary support to ADNOC in ensuring stable imports of crude oil by Japanese companies. This is the seventh loan^*1 that JBIC has provided for ADNOC with the aim of securing a long-term supply of crude oil to Japan. Abu Dhabi has been a stable and important supply source of crude oil to Japan for more than 40 years. Additionally, Abu Dhabi allows foreign oil companies to conduct business in the Emirate based on oil concession agreements. Abu Dhabi is therefore very important for Japan’s energy resource strategy. JBIC has been strengthening its relationship with ADNOC through a series of renewed MOUs in the sectors of oil and gas, decarbonization, and energy transition. In July 2024, JBIC signed a general agreement^*2 with ADNOC to provide a credit line under GREEN operations^*3. This MOU focuses on further strengthening the partnership with ADNOC Group and aims to promote collaboration between ADNOC Group and Japanese companies in these sectors.
     
4. This facility agreement and MOU will further enhance the multi-layered partnership between JBIC and ADNOC and strengthen Japan's relationships with the Emirate of Abu Dhabi, which is an important partner in Japan's energy resource strategy, and promote the formation of projects that strengthen the comprehensive strategic partnership between ADNOC Group and Japanese companies in sectors that are global and broadly cover the energy value chain, including downstream industries such as hydrogen, ammonia, and chemicals.
     
5. As a Japanese policy-based financial institution, JBIC will continue to provide financial support to Japanese companies in developing and acquiring energy resources in order to secure a stable energy supply to Japan, by drawing on its various financial instruments for structuring projects and expanding its risk-assuming function.
     

Note

1. *1 
   For information about the loans that JBIC has provided to ADNOC in the past, see Press Releases on December 18, 2007; November 4, 2010; February 12, 2013; January 18, 2016; January 16, 2018; and November 18, 2021.
2. *2 
   See Press Release on July 4, 2024 .
3. *3 
   See Announcement on July 2, 2018.