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JBIC to finance procurement of LNG tanker

LNG Industry,

The Japan Bank for International Cooperation (JBIC) has signed a loan agreement for the financing of up to US$87 million with Oceanic Breeze LNG Transport (OBLT), for the procurement of an LNG tanker.

OBLT is a joint venture between Kawasaki Kisen Kaisha Ltd and INPEX Shipping Co. Ltd. The loan is co-financed with Mizuho Bank Ltd and Mitsubishi UFJ Trust and Banking Corp., bringing the overall co-financing total to approximately US$125 million.

This loan is intended to finance OBLT to procure an LNG tanker for transporting LNG produced mainly from the Ichthys LNG project, operated by INPEX in Australia.

It supports the effort towards strengthening the energy value-chain by Japanese companies, from participating in LNG projects to transporting LNG, and will contribute to securing the long-term and stable supply of the liquid gas.

Adapted from press release by Katie Woodward

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