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Japan’s JOGMEC to Support New LNG Projects


The Japan Organization for Metals and Energy Security (JOGMEC) is planning to give financial support to Japanese companies for new LNG projects, JOGMEC CEO Ichiro Takahara said, cited by Reuters.

  • LNG accounts for 34% of the Japan’s LNG mix. Last year, Japan was the second largest LNG importer, after China.
  • "We have received several queries from Japanese companies regarding new LNG projects and we are preparing to decide on financial assistance," Takahara said.
  • Japan's investment in oil and gas exploration and asset acquisition is expected to double in the fiscal year starting in April to 108.2bn yen ($733mn), from 47.9bn yen for the current year according to a budget request.
  • Under the five-year business plan started last April, it aims to raise Japan's equity offtake from oil and gas projects supported by JOGMEC by 70,000 boepd to 1.05mn boepd by March 2028.

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