INPEX & Total joint venture are seeking USD$20bn in project finance for #Ichthys LNG

The joint venture between Japanese INPEX and French multinational Total are seeking USD$20bn in project finance for Ichthys LNG.

Finance is set to primarily come from credit agencies, who are reported to be providing between USD$5bn & USD$6bn. “Ichthys lenders include Japan Bank for International Cooperation (JBIC), Australia’s Export Finance & Insurance Corp, France’s Coface,Export-Import Bank of Korea, KSure and Nippon Export & Investment Insurance” states the star online.

While The Ichthys project could prove to be the worlds largest project finance loan, the project is also linked to extended sales contracts, largely coming from the utilities sector in Japan in the wake of the move away from nuclear power.

Mike Sangster, Managing Director of Total E&P Australia and Bill Townsend, General Manager External Affairs and Joint Venture at INPEX, will be presenting at LNG Outlook 2012 in Perth in November. Leaders from the LNG industry will converge at this event to discuss major projects and investment strategies. To find out more about the event, click here.