BG Group, JBIC Agree to Work Together in LNG Sector

BG Group has signed an agreement with the Japan Bank for International Cooperation (JBIC) aimed at supporting the long-term supply of liquefied natural gas (LNG) to Japan and creating opportunities for Japanese companies to participate in energy projects around the world.

As per the agreement BG Group will liaise with JBIC on the Group’s natural gas developments and JBIC will consider providing financial support for these projects. The relationship is expected to help ensure Japan receives stable supplies of natural gas in the form of LNG and create opportunities for Japanese companies to participate in BG Group projects, the British company said in a statement.

In the past 12 months BG Group has delivered 61 LNG cargoes to Japan, totalling about 3.88 million tonnes.

Also, BG Group has long-term LNG supply agreements with Tokyo Gas and Chubu Electric, to be sourced from the Group’s portfolio and the Queensland Curtis LNG project in Australia, which is on track to start production in 2014.