Inpex Raises $20 bn Loan for Ichthys LNG Project

Inpex Corp. has inked a $20 billion of loans for its Ichthys project in Australia, with the Japan Bank for International Cooperation, one of eight export credit agencies involved, providing the biggest chunk of $5 billion, Bloomberg has reported.

Ichthys LNG project, which was approved in January, is expected to cost $34 billion and would be operational by 2016. The venture has a reserves equivalent to LNG production of 8.4 million metric tons a year for about 20 years.

The loans are the biggest ever so-called project finance facility arranged in the international financial market, Inpex said in a statement.