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Ex-Im Bank Provides $1.8 Billion in Export Financing for Natural Gas Project in Australia

Bank's financing will sustain more than 9,000 American jobs

FOR IMMEDIATE RELEASE December 28, 2012

Media Contact Name/Phone: 

Lawton King (202-565-3200)

Washington, D.C. - The Export-Import Bank of the United States (Ex-Im Bank) will finance a $1.8 billion direct loan to BG Energy Holdings Ltd. (BG) to support U.S. exports for a natural gas liquefaction (LNG) project in Queensland, Australia. This is the Bank's second LNG project in Australia, and it will support an estimated 9,200 American jobs.

“This natural gas project will support thousands of U.S. jobs, and demonstrates one of the many exporting opportunities throughout Australia,” said Ex-Im Bank Chairman and President Fred P. Hochberg. “American-made products offer a quality and consistency that is respected around the world, and that's why businesses want ‘Made in the USA' labels on their shelves.”

Ex-Im Bank's financing will cover approximately $1.8 billion in goods and services related to the construction of the Queensland Curtis LNG Plant Trains.

Earlier this year, Ex-Im Bank approved a $2.95 billion direct loan to support the export of U.S. goods for the Australia Pacific LNG projectand a $281 million direct loan to Jabiru Satellite Ltd. in Southbank, Australia, for the purchase of satellite and ground equipment from Lockheed Martin Space Systems Co.

ABOUT EX-IM BANK:

Ex-Im Bank is an independent federal agency that creates and maintains U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. In the past five years (from Fiscal Year 2008), Ex-Im Bank has earned for U.S. taxpayers nearly $1.6 billion above the cost of operations. The Bank provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services.

Ex-Im Bank approved $35.8 billion in total authorizations in FY 2012 - an all-time Ex-Im record. This total includes more than $6.1 billion directly supporting small-business export sales - also an Ex-Im record. Ex-Im Bank's total authorizations are supporting an estimated $50 billion in U.S. export sales and approximately 255,000 American jobs in communities across the country. For more information, visit www.exim.gov.

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