Japan based Japan Oil, Gas and Metals National Corporation (JOGMEC) will provide the financial assistance for the development and production of Shale gas resources in North Montney area of British Columbia, Canada. In a statement published by JOGMEC, the company has signed the loan guarantee agreements in order to support JAPEX Montney Ltd, a Canadian subsidiary of Japan Petroleum Exploration Co Ltd. Te financial assistance will be of around 375 million dollar financed by Mizuho Bank Ltd., Tokyo-Mitsubishi UFJ, Ltd. and Sumitomo Mitsui Banking Corporation corresponding to 50 percent of a total of $750 million loan which will be co-financed with Japan Bank for International Cooperation to JML.
