JBIC provides $900mn loan to Jera for LNG purchases
The Japan Bank for International Cooperation (JBIC) has agreed to provide a 130bn yen ($900mn) loan to Jera for LNG purchases, it said on October 6. The loan will be co-financed with private financial institutions.
“This loan will provide the necessary funds for Jera to import LNG,” JBIC said. “Resource prices continue to rise, and a stable supply of electricity is recognised as an urgent issue for the lives of Japanese citizens and economic activities. It's becoming more and more important.”
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JBIC said it will continue to actively support efforts by Japanese companies to secure a stable supply of important resources.
Japan is one of the biggest LNG importers in the world. The country's LNG imports in August were 6.27mn metric tons, down 0.4% year/year, according to the latest government data. The imports were up 1.8% month/month, however. Japan’s shipments in August cost 874bn yen.