The LNG project is also financed by the China Ex-Im Bank and commercial lenders and the loan is expected to support 11,000 jobs in US.
Ex-Im Bank chairman and president Fred P. Hochberg said the authorization paves the way for U.S. companies to export equipment and services to this major LNG project and, in so doing, to maintain thousands of American jobs across the country.
"This financing also demonstrates how the United States and China can work together for our mutual benefit to foster trade and develop critically needed energy resources."
The Australia Pacific LNG project will develop coal-seam natural-gas fields, two gas transmission lines to a collection hub, a natural gas liquefaction plant and an adjacent marine shipping export terminal on Curtis Island near the city of Gladstone.
China Petroleum and Chemical Corp and Kansai Electric Power Co. of Japan will purchase most of the LNG produced.
