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“Backed by 32 global financial institutions – including four first-time lenders – this significant milestone highlights continued confidence in our business from leading financial institutions across the globe,” Jeragm said on Thursday.
These included banks across Asia, Europe, and the Middle East.
Jeragm said the facility was oversubscribed by over 200 percent, building on “strong” momentum from previous years.
Total commitments increased by $305 million compared to the 2024 facility.
According to Jeragm, this facility will support general corporate purposes, including its global LNG trading operations, “strengthening ur ability to move with agility and scale in dynamic energy markets.”
“This achievement is further underpinned by the reaffirmation of our AA-, stable credit rating by Rating and Investment Information, Inc., a reflection of our sound financial footing and disciplined risk management,” Jeragm said.
Jeragm’s LNG trading business
Jera, a joint venture of Tepco and Chubu Electric, owns 66.67 percent of Jeragm, while EDF Trading, a unit of French state-controlled utility EDF, holds the rest.
In April 2019, Jera and EDF Trading merged their LNG trading and optimization activities.
According to Jeragm’s website, the JV has a fleet of 18 chartered LNG carriers supporting its global trading operations.
Jeragm manages and operates third-party supply agreements from Australia, Southeast Asia, the Middle East, and the US Gulf and optimizes term contracts on behalf of Jera and EDF Trading.
The company’s gross executed LNG trade volume reached about 46 million tons in fiscal 2023.
Last year, Jera said it plans to invest 1-2 trillion yen ($6.75-$13.5 billion) in its LNG business by fiscal 2035.
Jera targets more than 35 million tons of LNG transaction volume, aims to achieve 20 GW (gigawatts) of renewable capacity, and targets about 7 million tons of hydrogen and ammonia handling volume by fiscal 2035.
