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Japex to take $82 million loss on Canada LNG project

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LNG Industry,

Reuters are reporting that Japan Petroleum Exploration Company (Japex) has announced that it would take a loss of about C$102 million (US$82 million) in the year to end-March due to the scrapping of a LNG project in western Canada.

Japex, which has a 10% interest in the project, said it would give an earnings forecast for the current business year when it releases its first-quarter results on 8 August.

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