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NEXI provides insurance for the Tangguh LNG Expansion Project

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LNG Industry,

Nippon Export and Investment Insurance (NEXI) has announced that it will provide insurance for debt guarantee provided by LNG Japan Corp. for the Tangguh LNG Expansion Project in Indonesia.

The two existing trains at the Tangguh LNG terminal produce 7.6 million tpy of LNG. The expansion project proposes to add an additional train, which will add 3.8 million tpy of LNG to the terminal’s production capacity.

LNG Japan Corp. and other Japanese partners hold approximately 46% interest in the project. Kansai Electric Power Co. Inc. will purchase around 25% of LNG produced yearly from the new LNG train.

NEXI’s insurance will cover political-risk losses suffered by LNG Japan Corp. in guaranteeing loans provided by commercial banks including Japanese banks to finance the Tangguh Expansion Project. NEXI also provided insurance for LNG Japan Corp.’s guarantee in November 2007 for commercial bank loans provided to construct the two trains of the Tangguh LNG facilities.

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