JBIC is providing around JPY 120 billion for financing an Indonesian liquefied natural gas (LNG) project being developed by a Japanese consortium. The financial institution inked a contract with a JV of Mitsubishi Corporation, Inpex and a member of the JX Holdings Group. The project aims to expand LNG production facilities at the Tangguh LNG plant in eastern Indonesia, boosting annual output capacity by 50 per cent to about 11 million tonnes. The total project cost is expected to be between JPY 800 billion and JPY 1 trillion.
