Japan's JBIC to sign $3 bln loan to ADNOC: source

TOKYO (Reuters) - The Japan Bank for International Cooperation (JBIC) is set to sign a deal to co-finance up to $3 billion in loans to the Abu Dhabi National Oil Co. (ADNOC) of the United Arab Emirates, an industry source said on Monday.

The deal comes after the state-backed Japanese bank signed a strategic partnership with state-run ADNOC earlier this year in a bid to deepen bilateral ties in the oil and gas sector and secure long-term crude oil supply deals for Japanese oil firms.

UAE is the second-biggest crude oil supplier to Japan after Saudi Arabia, supplying about 25 percent of resource-poor Japan's crude needs.

ADNOC will get the proceeds as a form of an advanced payment for crude oil sales to Japanese oil firms, and return it via the long-term crude exports to Japan, the source said.

JBIC's loan, to be coordinated with a few private banks, is due to be signed in Tokyo later in the day, the source said.

JBIC declined comment.

(Reporting by Osamu Tsukimori; Editing by Malcolm Whittaker)