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Partner Oil Search said this was more than sufficient to meet the estimated $US13 billion of debt required for the project which was based on the agreed 70% debt gearing.
The financing is led by $US8.3 billion in commitments from export credit agencies including US Exim; JBIC and NEXI from Japan; China Exim; SACE from Italy; and EFIC from Australia.
It includes $US1.95 billion of uncovered commitments from a syndicate of 17 commercial banks and $US3.75 billion of co-lending from ExxonMobil.
Oil Search said all parties will now move to clear the remaining conditions required before first drawdown with financial close targeted by mid-February 2010.
PNG LGN operator ExxonMobil and its partners last week decided to go ahead with the project, purchase contracts with LNG buyers and finalise financing arrangements with lenders.
The project will be capable of producing 6.6 million tonnes of LNG per annum.
