Japan to invest in liquefied natural gas global infrastructure project
Japan will invest $10 billion on liquefied natural gas projects worldwide according to Minister of Economy, Trade, and Industry (METI) Isshu Sugawara on Thursday during the annual liquefied natural gas (LNG) Producer-Consumer Conference in Tokyo.
“On top of Japan’s commitment two years ago of investing or financing more than $10 billion in energy supply chains, we are making a fresh commitment of additional and collective $10 billion funding from both public and private sectors,” said the minister.
Japan’s stance as unveiled through the announcement is part of the country’s effort to boost the global LNG market and reinforce the security of energy supply which has started a couple of years back.
Now coming as the biggest LNG buyer primarily also to lessen its level of dependence on energy supply from the Middle East as the region continued to be the target of the attack to destabilize the global oil supply.
Japan is also looking to conduct training for 500 experts in LNG technology. Previously, Japan also promised to train experts in LNG reception technology and environmental regulations.
“By making these commitments to help develop the global LNG market, Japan will work hard to reinforce global energy security,” Isshu said.