Japanese bank could support three LNG developments offshore Australia
Offshore staff
PERTH, Australia — Woodside Energy has signed a memorandum of understanding (MoU) with the Japan Bank for International Cooperation (JBIC). The two parties will work to secure a stable energy supply to Japan and support its decarbonization initiatives.
The terms of the non-binding MOU include cooperation in the LNG sector and the development of new energy products and lower-carbon services.
In the 1980s JBIC (then known as Export-Import Bank of Japan) was an early investor in the Woodside-operated North West Shelf Project offshore Western Australia.
Japanese buyers signed long-term gas supply agreements, with the first Australian LNG cargo dispatched from the onshore Karratha gas plant to Japan in 1989.
In 2008 JBIC signed a loan agreement (up to $1 billion) providing finance to Woodside for the Pluto LNG project.
Under the MoU, new offshore Australia LNG supply projects could include Woodside’s Scarborough and its proposed Browse and Sunrise developments.
Among the potential lower-carbon services on the agenda are hydrogen, ammonia, and carbon capture and storage.
11.01.2022
