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Revealed by Jessica Casey,
Editor
LNG Trade,
Trafigura Group Pte Ltd, a market chief within the world commodities business, has efficiently entered into two revolving credit score services, for a complete mixed quantity of US$400 million, with insurance coverage from the Export-Import Financial institution of america (US EXIM). The services will completely be utilized by the corporate to buy LNG cargoes from US exporters for provide to prospects primarily in Europe, offering vitality safety by alternative of Russian gasoline because of the warfare in Ukraine.
The signing of the agreements follows approval by the US EXIM Board of Administrators of two monetary establishment purchaser credit score (FIBC) insurance policies issued to 2 monetary establishments, together with Citibank, for short-term services being prolonged to Trafigura.
Christophe Salmon, Trafigura’s Group Chief Monetary Officer, stated: “We’re delighted to have efficiently closed the primary LNG-based services backed by US EXIM’s FIBC insurance coverage coverage, which helps American jobs by facilitating US exports.”
Citibank, N.A. acted as sole arranger with Citibank, N.A., London Department as ECA agent and lender for one of many services.
Learn the article on-line at: https://www.lngindustry.com/liquid-natural-gas/06102023/trafigura-closes-us400-million-revolving-credit-facilities-backed-by-us-exim/
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