The company said the facilities will exclusively be used to purchase LNG cargoes from U.S. exporters for supply to customers primarily in Europe, providing energy security through replacement of Russian gas due to the war in Ukraine.
The signing of the agreements follows approval by the US EXIM Board of Directors of two Financial Institution Buyer Credit (FIBC) policies issued to two financial institutions, including Citibank, for short-term facilities being extended to Trafigura.
Christophe Salmon, Trafigura’s Group Chief Financial Officer, said: “We’re delighted to have successfully closed the first LNG-based facilities backed by US EXIM’s FIBC insurance policy, which supports American jobs by facilitating US exports.”
Last year, Trafigura entered into a $3 billion four-year loan agreement guaranteed by the Federal Republic of Germany to secure gas supply.
The first gas delivery took place on November 1, 2022, and Trafigura noted it will primarily use existing quantities from its global gas and LNG portfolio to help secure gas supplies to Securing Energy for Europe (SEFE).
