Transcript PowerPoint プレゼンテーション

JBIC’s Activities in Turkmenistan
and
Potentials for Cooperation in Gas Area
May 26th, 2011
Hiroshi Iwao
Chief Representative in Moscow
Japan Bank for International Cooperation (JBIC)
1
Agenda
I.
JBIC’s Profile
II. JBIC’s Activities in Turkmenistan
III. JBIC’s Potentials of Cooperation in Gas Area of
Turkmenistan
2
Ⅰ．JBIC’s Profile
3
JBIC’s Profile
Name

Japan Bank for International Cooperation, the
international wing of the Japan Finance Corporation
(continuing to use the name of “JBIC”)
Establishment

December 1950, as EXIM (Export-Import Bank of Japan)

Transformed into current JBIC as of October 2008
Profile

Policy-based financial institution

Wholly owned by the Japanese Government

Network of 19 Overseas Offices to cover operations with
more than 80 Countries

Capital Stock: JPY 1,055.5 bill* (USD 11.3 bill**)

Outstanding Loan and Other Financing: JPY 8,818.0 bill*
(USD 94.8 bill**)

Outstanding Guarantees: JPY 1,977.0 bill* (USD 21.2
bill**)

Overall commitments in FY 2009: JPY 3,365.1 bill (USD
36.2 bill**)

Overall disbursement in FY 2009: JPY 3,330.5 bill (USD
35.8 bill**)
* As of March 31, 2010, **calculated by 93.04 JPY/USD
(BTMU TTM as of March 31, 2010)
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Outline of Organizational Restructuring
October 2008
Japan Finance Corporation (JFC)
（Notes 1, 2）
Export-Import Bank of
Japan (JEXIM)
October 1999
（International Finance）
JBIC
Ex-JBIC
National Life Finance
Corporation
IFOs
（Domestic Finance）
Agriculture, Forestry and
Fisheries Finance Corporation
Japan Finance Corporation for
Small and Medium Enterprise
Overseas Economic
Cooperation Fund (OECF)
OECOs
（Crisis Response）
(Note 1) Established based on the “Japan Finance Corporation* Law”
(Note 2) Okinawa Development Finance Corporation will be merged into JFC* in FY2012 or later.
IFOs: International Financial Operations
OECOs: Overseas Economic Cooperation Operations
Japan International Cooperation Agency (New JICA)
Technical Assistance
ODA Loan
Grant Assistance（Note 3）
(Note 3) This excludes grant assistance which the Ministry of Foreign Affairs will continue to
directly implement for the necessity of diplomatic policy.
5
Overseas Network of JBIC
Japan: Tokyo (HQ), Osaka, Overseas: 19 offices
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JBIC’s Mission
1) Promoting overseas development and acquisition of strategically important
natural resources
2) Maintaining and improve the international competitiveness of Japanese
industries
3) Promoting the overseas business for preserving the global environment, such
as preventing global warming
4) Responding to disruptions in financial order in the international economy
1. Export Loans
- financing for the exports of Japanese plants, equipment and technologies to developing countries
2. Import Loans
- financing for the imports of oil, LNG , iron ore and other strategically important materials to Japan
3. Overseas Investment Loans
- financing for overseas investment projects undertaken by Japanese companies for manufacturing,
resource development, and other business ventures
4. Untied Loans
- financing for supporting improvements in the overseas business environment to facilitate Japanese
trade, investments and other overseas business activities. Untied loans also support projects
undertaken by foreign governments and government. The loans do not require procurement of
materials and equipment from Japan (“Untied”) but projects to be financed should be served as
“Japan Interests”
5. Equity participation
- equity investment in overseas joint ventures involving Japanese companies, or funds in which
Japanese companies participate
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Ⅱ．JBIC’s Activities in Turkmenistan
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JBIC’s achievements in Turkmenistan
Project
Expo r t o f C o n st r u c t io n
M ac h in e r y
Loan Amount
1 , 3 4 1 m illio n ye n
(JBIC Po r t io n : 8 0 5 m illio n ye n )
1 3 , 6 2 3 m illio n ye n
Expo r t o f Oil Re fin e r y
(JBIC Po r t io n : 8 , 1 7 4 m illio n ye n )
Expo r t o f C o t t o n T e xt ile
Plan t
Expo r t o f Po lypr o pyle n e
Plan t
Expo r t o f C o n st r u c t io n
M ac h in e r y
Expo r t o f C o n st r u c t io n
M ac h in e r y
Expo r t o f Fe r t ilize r Plan t
Total Amount
1 6 , 2 7 9 m illio n ye n
(JBIC Po r t io n : 9 , 7 6 8 m illio n ye n )
4 7 , 6 0 0 m illio n ye n
(JBIC Po r t io n : 2 8 , 5 6 0 m illio n ye n )
7 8 4 m illio n ye n
(JBIC Po r t io n : 4 7 0 m illio n ye n )
8 1 6 m illio n ye n
(JBIC Po r t io n : 4 9 0 m illio n ye n )
4 5 , 0 3 4 m illio n ye n
(JBIC Po r t io n : 2 7 , 0 2 1 m illio n ye n )
Borrower/
Guarantee
Japan e se Expo r t e r
(Su pplie r s C r e dit )
St at e Ban k fo r Fo r e ign Ec o n o m ic
Affair s o f T u r km e n ist an
(Gu ar an t e e d by t h e Go ve r n m e n t
o f T u r km e n ist an )
St at e Ban k fo r Fo r e ign Ec o n o m ic
Affair s o f T u r km e n ist an
(Gu ar an t e e d by t h e Go ve r n m e n t
o f T u r km e n ist an )
St at e Ban k fo r Fo r e ign Ec o n o m ic
Affair s o f T u r km e n ist an
(Gu ar an t e e d by t h e Go ve r n m e n t
o f T u r km e n ist an )
Japan e se Expo r t e r
(Su pplie r s C r e dit )
Japan e se Expo r t e r
(Su pplie r s C r e dit )
Go ve r n m e n t o f T u r km e n ist an
(Ac t in g t h r o u gh t h e St at e Ban k
fo r Fo r e ign Ec o n o m ic Affair s o f
T u r km e n ist an )
Signing Date
Se pt e m be r , 1 9 9 6
Oc t o be r , 1 9 9 6
De c e m be r , 1 9 9 7
Se pt e m be r , 1 9 9 8
Oc t o be r , 2 0 0 1
Oc t o be r , 2 0 0 1
M ar c h , 2 0 1 0
1 2 5 , 4 7 8 m illio n ye n
(JBIC Po r t io n : 7 5 , 2 8 7 m illio n ye n )
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Recent Transaction: Fertilizer Plant in Mary City
Construction of country's largest ammonia and urea fertilizer
production plant
Scheme
Borrower
: Government of Turkmenistan
Loan Amount : 45 billion JPY (483 million
USD equivalent)
Signing Date
: March 2010
JBIC
Japanese
private banks 2/
Government
Loan
State Bank for
Foreign Economic
Affairs 1/
Insurance
Exporter
: Sojitz Corporation and
Kawasaki Plant Systems
Importer
: Turkmenhimiya
Exports : Machinery, equipment, and related
technical services
Sub Loan
NEXI
Sojitz and
Kawasaki Plant
Systems
Turkmenhimiya
Export
1/ Acting on behalf of the Government of Turkmenistan
2/ Mizuho Corporate Bank, Bank of Tokyo-Mitsubishi UFJ, and Sumitomo Mitsui Banking Corporation
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Fertilizer Plant in Mary City
1.
Project Status

Construction started on January 25, 2011. Operation is expected to start in 2014.
2.
Merits of the project

Huge natural gas reserves in Turkmenistan (8.1 trill cubic meters, the 4th largest in the
world) has been contributing to domestic gas usage and creation of foreign currency
revenues through export.

Development of gas-chemical industry in Turkmenistan, such as Mary Fertilizer Plant which
makes use of natural gas, has the following potentials for Turkmenistan economy;

Diversification of gas usage and industries; development of innovation and high-tech
areas; sustainable development of the natural gas sector

Import substitution industrialization; (in case of fertilizer) support of agriculture area

Exploration of opportunities of further increase of foreign currency revenues through
export of the gas-chemical products
3.
Japan’s and JBIC’s contribution

Japanese companies, with world’s top quality equipment and experienced plant engineering
service, can provide the best solution to establish and modernize gas-chemical industry in
Turkmenistan.

JBIC is ready to consider export loans to finance plant projects including gas-chemical
sector where Japanese companies are involved.
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Ⅲ． JBIC’s Potentials of Cooperation in
Gas Area of Turkmenistan
12
Cooperation through Export Credit
Export Credit can support Gas related areas such as followings;

Gas development and transportation: gas treatment facility,
gas separation facility, gas compressor, pipes of gas pipeline,
LNG liquefaction plant, LNG or CNG ship

Gas-chemical plant such as fertilizer plant, DME plant and
methanol plant, e.g., Mary Fertilizer Project

Gas thermal power generation
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Cooperation though Natural Resources Development Finance
What is Natural Resources Development Finance?
 Mission:
To secure energy and natural resources for the Japanese economy
 Principal Factors :

Japanese sponsors’ equity participation to upstream and downstream

Substantial quantity of energy and natural resources to be imported to
Japan
 Subject Project :
Import and/or upstream development of energy and natural resources
such as:
 Energy Resources / Oil, Natural Gas, Coal, etc.
 Natural Resources / Ferrous and Non-ferrous Minerals, Metals, Coking Coal,
Phosphate ore, etc.
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JBIC’s Natural Resources Development Finance
Natural Resources Development Facilities: Scheme (1)
(1) Natural Resources Development Loans
(Overseas Investment Loans)
Pattern 1
JBIC/
Commercial
Banks
Equity
Participation
Loan
Japanese
Companies
*Natural Resources
Development Project
Natural Resources
(Long-Term
Off-take Contract)
*Projects which Japanese companies participate in and
through which they can secure natural resources for Japan
on a long-term contact basis.
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JBIC’s Natural Resources Development Finance
Natural Resources Development Facilities: Scheme (2)
Pattern 2
Equity
Participation/
Loan
JBIC/
Commercial
Banks
Loan
Overseas
J/V
Japanese
Companies
Natural
Resources
(Long-Term Off-take Contact)
Equity
Participation
Natural
Resources
Natural
Resources
Development
Project
Loan
*JBIC can provide loans to Japanese companies and also J/V partners,
if the Japanese companies acquire natural resources on a long-term
contract basis.
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JBIC’s Natural Resources Development Finance
Natural Resources Development Facilities: Scheme (3)
(2) Import Loans for Natural Resources
Loan
Loan/Advance Payment
JBIC /
Commercial
Banks
Loan
Japanese
Companies
Natural Resources
Project
Sponsors
(Long-Term
Off-take Contract)
* Import Loans finance the development
and import of natural resources.
Natural Resources
Development Project
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JBIC's gas related projects in recent 5 years
date
project
2006/4 Al Hidd Water and Power Project
2006/8 Tangguh LNG Project
2007/3 Almanaka Power Generation Project
2007/5 Brunei Methanol Manufacture and Sales Project
2008/5 Yemen LNG
2008/6 Sakhalin II phase 2
2008/6 Pluto LNG Project
2008/8 Ras Laffan C Power and Desalination Project
2008/9 Developing Offshore Gas Fields in Egyptian Waters
2009/10 Shuweihat S2 Power and Desalination Project
2009/12 PNG LNG Project
2010/3 Mary Fertilizer Project
2011/1 Acquisition of Interests in Shale Gas in Pennsylvania
2011/3 Gorgon LNG Project
2011/5 Acquisition of Interests of Shale Gas in Canada
*USD mill, unless otherwise specified
amount*
country
1,000
Bahrain
1,200
Indonesia
110
Jordan
360
Brunei
200
Yemen
3,700
Russia
1,000
Australia
1,500
Qatar
500
Egypt
1,111
UAE
1,800 Papua New Guinea
483 Turkmenistan
700
U.S.A
102
Australia
CAD250mill
Canada
category
gas thermal power and desalination
LNG
gas thermal power
gas-chemical / methanol
LNG
LNG
LNG
gas thermal power and desalination
offshore gas field development
gas thermal power and desalination
LNG
gas-chemical / fertilizer
shale gas
LNG
shale gas
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Common issues: Environmental consideration
Gas related areas almost always correspond to Category A under JBIC’s
Environmental Guideline.


A proposed project is classified as Category A if it is likely to have
significant adverse impact on the environment. Category A, in principle,
includes projects in sensitive sectors or with sensitive characteristics and
projects located in or near sensitive areas.

Examples of Sensitive Sectors, Characteristics and Areas include; Natural
gas development, Pipelines, Petrochemicals, Gas and chemical terminals,
Thermal power, Large-scale involuntary resettlement

Environmental reviews for Category A projects examine the potential negative
and positive environmental impact of projects.

JBIC evaluates measures necessary to prevent, minimize, mitigate or
compensate for potential negative impact, and measures to promote positive
impact if any such measures are available.

Borrowers and related parties must submit Environmental Impact Assessment
(EIA) reports and environmental permit certificates issued by the host
governments or other appropriate authority for Category A projects.

For projects that will result in large-scale involuntary resettlement,
resettlement plans must be submitted.
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Common issues: Environmental consideration
JBIC undertakes its environmental reviews based on the EIA and other reports
prepared by the project proponents and submitted through the borrower.



JBIC’s environmental reviews usually include environmental site visit with
environmental expert consultants selected by JBIC and exchange of
questions and answers in depth.

JBIC’s environmental reviews are usually implemented with NEXI, cofinancing financial institutions in a very coordinated manner.
It is recommendable for a project organizer to reflect JBIC’s environmental
reviews in project scheduling.
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Contact
Head Office
1-4-1, Ohtemachi, Chiyoda-ku, Tokyo, 100-8144, JAPAN
Europe, Middle East and Africa Finance Department, Division 1
Mr. Seigo BABA, Division Chief
[email protected]
Mr. Manabu KATO, Deputy Division Chief
[email protected]
Phone: +81-3-5218-3452, Fax: +81-3-5218-3964
Energy and Natural Resources Finance Department, Division 2
Mr. Tomohiko MARUYAMA, Division Chief
[email protected]
Mr. Atsuki SHIBUYA, Deputy Division Chief
[email protected]
Phone: +81-3-5218-3452, Fax: +81-3-5218-3964
Representative Office in Moscow
Mr. Hiroshi IWAO, Chief Representative
[email protected]
Mr. Koshiro MIYAKE, Representative
[email protected]
Phone:+7-495-258-1832, Fax: +7-495-258-1858
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Disclaimer




This presentation has been prepared by Representative Office in Moscow of JBIC
and is being shared with participants of TGC2011 solely for Information purposes.
JBIC does not make any representation or warranty as to the accuracy or
completeness of this information.
All rights reserved. These presentation materials may not be reproduced, stored,
transmitted in any form or by no means, electronic, mechanical, photocopying or
otherwise, disclosed to any person or entity in whole or in part, or used for any
other purposes, without the prior written consent of JBIC.
Information contained in this presentation and its materials may be subject to
change without notice and may at any time be superseded. JBIC and/or any
person accept no liability whatsoever for any direct, indirect or consequential loss
of any kind arising out of the presentation and its materials, or relevant financial
advisory services.
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