IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 18 Dec 2012 | Removal date: open ended
Still in force

Financial assistance in foreign market

The overseas investment loan agreement between JBIC and the Japanese company Tokyo Gas Co., Ltd has a maximum value of USD 141 million.

The company is participating in an Australian LNG project through Australian Ichthys LNG Pty Ltd. The Australian company is a joint venture company between a number of companies including Tokyo Gas Co., Ltd. This project consists of developing the Ichthys Gas and Condensate Field, to then transport and sell the produced LNG, liquefied petroleum gas and condensate. The Japanese company's share of the produced LNG and other petroleum products will be sold by its Australian subsidiary.

The loan finances Tokyo Gas Co., Ltd's acquisition of 1.575%  interest in the above natural gas and condensate field and the liquefaction plant also utilised in the project. 

In this context, the Bank clarified: "While participating in this project, Tokyo Gas also has a long-term offtake agreement (lasting 15 years from 2017) in which it receives a supply of 1.05 million tons of LNG per year from this project" JBIC further concluded: "JBIC will continue to actively support Japanese companies for developing and acquiring interests in natural resources, such as natural gas and crude oil."

On the 4th and 18th of December 2012, JBIC additionally signed two loan agreements to support Japanese companies to participate in the above LNG project, see related measures.

Overseas investment loans
JBIC provides direct loans named overseas investment loans to Japanese companies, overseas affiliates or joint ventures where Japanese companies hold equity interests and governments or financial institutions partying with such overseas affiliates. Loans support projects in specific sectors or with a specific purpose of interest to Japan. Further information can be found on the Bank’s website under overseas investment loans.

The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets and from foreign subsidiaries.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

120 Crude petroleum & natural gas
2709 Petroleum oils and oils obtained from bituminous minerals, crude.
270900 Petroleum oils and oils obtained from bituminous minerals, crude.
2711 Petroleum gases and other gaseous hydrocarbons.
271111 Natural gas
334 Petroleum gases & other gaseous hydrocarbons, except natural gas
2711 Petroleum gases and other gaseous hydrocarbons.
271112 Propane
271113 Butanes
271114 Ethylene, propylene, butylene and butadiene
271119 Other

Please report this page in case you detect an inaccuracy in its content.