April 1 (LNGJ) - Japan Bank for International Cooperation (JBIC) confirmed the signing of a loan agreement amounting to up to US$390 million (JBIC portion) with Singapore- headquartered Trafigura Pte Ltd. The loan is co-financed with Japan’s Sumitomo Mitsui Banking Corp., bringing the total co-financing amount to around US$560M.
“Trafigura is a major supplier of resources including liquefied natural gas as a market leader in the global commodities industry. The loan is intended to provide the funds required for a Japanese utility company to import LNG from Trafigura,” said JBIC. “Amid the growing global demand for LNG and the increasing uncertainty over resource prices, the loan, which supports the Japanese utility company in procuring term LNG through Trafigura, will contribute toward securing a stable supply of LNG, which is an important energy resource for Japan,” added JBIC.
