The Japan Bank for International Cooperation (JBIC) signed on March 27 a loan agreement amounting to up to USD 390 million (JBIC’s portion) with Trafigura Pte Ltd (Trafigura).
The loan is co-financed with Sumitomo Mitsui Banking Corporation (SMBC), bringing the total co-financing amount approximately to USD 560 million.
Singapore based Trafigura Pte Ltd is a supplier of resources including liquefied natural gas (LNG), and the loan is intended to provide the funds required for a Japanese utility company to import LNG from Trafigura on term basis.
Amid the growing global demand for LNG and the increasing uncertainty over resource prices, the Facilities, 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.
“As Japan’s policy-based financial institution, JBIC will continue to provide financial support to help secure a stable supply of important resources for Japan by drawing on its various financial facilities and schemes for structuring projects and by performing its risk-assuming function,” reads the statement of Trafigura.
Richard Holtum, global head of gas, power and renewables for Trafigura, said: “We’re delighted to have been trusted with helping a Japanese utility company meet its energy needs and securing a stable supply to the Japanese market, and are grateful for the financial support of JBIC and SMBC in achieving this goal.”
Source: Trafigura
