Inpex, Total ‘seek $20bn Ichthys loans’

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Eoin O'Cinneide

 25 May 2012 10:48 GMT

Inpex and Total are hunting loans totaling $20 billion for the giant Ichthys LNG project off Australia, a report claims.

The Japanese company and French oil major will be looking for loans from export credit agencies as well as hitting the commercial banking market to help finance the $34 billion project which in practical terms got under way this week.

Reuters cited unidentified sources as saying that the partners in the giant project are chains $20 billion in loans in what could prove the world’s largest project finance loan, it said.

Export credit agencies are to provide $5 billion to $6 billion with insurance cover for at least half of the remaining $14 billion to $15 billion, Reuters reported on…

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