JBIC Lends $2B For Japanese Group's Wheatstone LNG Buy-In

Law360, New York (July 31, 2012, 1:27 PM EDT) -- Japan Bank for International Cooperation said Tuesday it will lend $1.93 billion to a Japanese consortium that owns a minority stake in Chevron Corp.'s $29 billion Wheatstone LNG offshore Australian gas project, which will sell most of its gas to Japanese utilities.

The loan will go to PE Wheatstone Pty. Ltd., which was established in June by Mitsubishi Corp., shipping firm Nippon Yusen Kabushiki Kaisha and utility Tokyo Electric Power Co. Inc. to buy into the export project. The group now owns an 8 percent stake...
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