Tokyo Gas Gorgon Gets JBIC Loan

The Japan Bank for International Cooperation (JBIC) said it has recently signed a second loan deal with Tokyo Gas Gorgon (TGG), a unit of Tokyo Gas.

The $265 million loan will be used for the develpoment of Australia’s Gorgon LNG project in which TGG has a 1 percent stake.

The Gorgon project is developing the Gorgon and Jansz-Io gas fields, located within the Greater Gorgon area, between 130 and 220 kilometres off the northwest coast of Western Australia.

It includes the construction of a 15.6 million tonne per annum (MTPA) liquefied natural gas (LNG) plant on Barrow Island and a domestic gas plant with the capacity to supply 300 terajoules of gas per day to Western Australia.

The Gorgon Project is operated by Chevron. It is a joint venture of the Australian subsidiaries of Chevron (approximately 47.3 percent), ExxonMobil (25 percent), Shell (25 percent), Osaka Gas (1.25 percent), Tokyo Gas (1 percent) and Chubu Electric Power (0.417 percent).

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LNG World News Staff, January 17, 2014; Image: Chevron