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Timor Gap, East Timor's state-owned natural gas company, is prepared to sign an $11 billion deal with China's state-owned Exim Bank to fund an onshore liquefied natural gas plant, port and subsea pipeline to the Greater Sunrise gas block, The Australian reported June 25, citing an unnamed source.
A U.S. court found three unnamed Chinese banks in contempt after they declined to hand over records requested by a grand jury related to their dealings with a Hong Kong front company that allegedly laundered over $100 million for North Korea's Foreign Trade Bank, The Washington Post reported June 25.
A liquefied natural gas project in Papua New Guinea will be the first to receive financing under the Indo-Pacific Infrastructure Initiative, a cooperative development effort among the United States, Japan and Australia, Nikkei Asian Review reported June 25.
The governor of the central bank of Pakistan, Reza Baqir, said Pakistan has satisfied all International Monetary Fund preconditions for a $6 billion loan agreement announced May 12, The Express Tribune reported June 18.
Ethiopian Prime Minister Abiy Ahmed's office has reportedly scrapped a central bank mandate requiring foreign mining and energy companies involved in exploration and development projects to have local foreign exchange accounts, Fortune News reported June 15.