AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
According to an official press release of 31 October 2013, Australia's export credit agency, Export Finance and Insurance Corporation (EFIC), has provided a US$150 million loan facility for companies seeking to engage in the Ichthys LNG Project. The stated motivation of this facility is to 'ensure Australian companies secure important construction contracts, including in relation to the offshore works.'
The Ichthys LNG Project is a Joint Venture between the following participants: INPEX Corp. (Japan), TOTAL S.A. (France) and the Australian subsidiaries of Tokyo Gas, Osaka Gas, Chubu Electric Power and Toho Gas. In total, the project volume is estimated at US$ 20 billion.
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