NYK Line Nets USD 190 Mn Loan for Cameron LNG
- Business & Finance
Japanese shipping company Nippon Yusen Kabushiki Kaisha (NYK LINE) has through its subsidiary Rosewood Shipping PTE signed a loan agreement worth USD 190 million to finance the company’s LNG tanker business focusing on transporting LNG produced by the U.S.-based Cameron LNG project.
The loan has been signed with the Japan Bank for International Cooperation (JBIC) for USD 133 million and the Bank of Tokyo-Mitsubishi for USD 57 million.
“This loan will contribute to securing for Japan a long-term and stable supply of LNG that has become increasingly important in recent years as fuel for power generation, while utilizing the Japanese shipping companies’ wide experience in the area of LNG shipping business,” JBIC said.
Cameron LNG is a liquefied natural gas (LNG) terminal near the Gulf of Mexico, jointly owned by Sempra LNG & Midstream, ENGIE (formerly GDF SUEZ), Mitsui and Japan LNG Investment, LLC, a company jointly owned by Mitsubishi Corporation and NYK.
The LNG receipt terminal which started commercial operations in 2009 has two marine berths capable of accommodating Q-Flex sized LNG ships, three LNG storage tanks of 480,000 cubic meters, and vaporization capability for regasification services of 1.5 Bcf per day.
In 2014, Cameron LNG began construction on new facilities to liquefy natural gas and export to the world market.
World Maritime News Staff