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Japan’s spending on LNG infrastructure reaches US$4 billion

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Reuters is reporting that the Japanese government, combined with private companies, has spent US$4 billion on LNG infrastructure in the last year.

The projects receiving investment have been mainly located in Asia, and the funds aim to help spur LNG demand across the region. The focus has been on establishing LNG facilities, as well as training and developing an LNG workforce.

Financing will reportedly continue to go towards LNG projects across the supply chain – upstream, midstream and downstream – in developing countries across Asia. The aim remains to expand the use of LNG as a fuel source and spur demand.

The initiative has been driven by a partnership developed by Hiroshige Seko (Japanese Minister of Economy, Trade and Industry) and Rick Perry (US Energy Secretary). An agreement was reached in June 2017 that the two countries would cooperate to expand the Asian LNG market, creating greater demand for US imports.

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/22102018/japans-spending-on-lng-infrastructure-reaches-4-billion-dollars/

 

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