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Japan to invest US$10 billion in LNG

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LNG Industry,

Reuters is reporting that Japan’s industry minister has announced that Japan, along with its private sector firms, will invest US$10 billion in global LNG projects.

This move doubles a two-year old commitment by Japan to bolster worldwide energy supply chains. In this time of uncertainty and tension, the world’s largest importer of LNG is motivated to reduce its reliance on energy imports from the Middle East.

According to a Reuters source, the original US$10 billion budget from 2017 has already largely been committed to investments in major projects such as LNG Canada, in which Mitubishi Corp. holds a stake, and Mozambique LNG, in which Mitsui & Co. is a stakeholder.

In addition to doubling its investments, Japan has also pledged to train 500 experts in LNG technology. This same pledge was made in 2017, and since then 400 experts have reportedly been trained in areas such as LNG reception technology and environmental regulations.

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