TOKYO -- A Japanese state-backed insurer will cover a 100 billion yen ($680 million) credit line extended by Sumitomo Mitsui Banking to power company JERA for LNG purchases, Nikkei has learned, seeking to help diversify the country's energy procurement.
The policy, offered by Nippon Export and Investment Insurance (NEXI), will be the first covering a domestic loan. The guarantee is expected to help the power company cultivate diverse sources of liquefied natural gas. NEXI will evaluate only risks tied to JERA itself, not the countries where it will do business.
