Japan to invest $10 billion in global LNG infrastructure projects - minister

TOKYO (Reuters) - Japan and its private sector firms will invest $10 billion on liquefied natural gas (LNG) projects worldwide, the country's industry minister said on Thursday, in a strategy to boost the global LNG market and reinforce the security of energy supply. The move, doubling a commitment by Japan two years ago to bolster energy supply chains, comes as the world's biggest LNG buyer aims to reduce its reliance on energy from the Middle East as growing tensions in the region threaten the stability of global oil supply

Reuters September 26, 2019 07:07:14 IST
Japan to invest $10 billion in global LNG infrastructure projects - minister

Japan to invest 10 billion in global LNG infrastructure projects  minister

TOKYO (Reuters) - Japan and its private sector firms will invest $10 billion on liquefied natural gas (LNG) projects worldwide, the country's industry minister said on Thursday, in a strategy to boost the global LNG market and reinforce the security of energy supply.

The move, doubling a commitment by Japan two years ago to bolster energy supply chains, comes as the world's biggest LNG buyer aims to reduce its reliance on energy from the Middle East as growing tensions in the region threaten the stability of global oil supply.

"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 Isshu Sugawara, Minister of Economy, Trade and Industry, speaking in Tokyo at the annual LNG Producer-Consumer Conference.

As a part of Japan's effort to broaden use of the super-chilled fuel, the country also plans to train 500 experts in LNG technology, he said.

"By making these commitments to help develop the global LNG market, Japan will work hard to reinforce global energy security," he said.

(Reporting by Yuka Obayashi; Editing by Kenneth Maxwell)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

also read

France, Germany to agree to NATO role against Islamic State - sources
| Reuters
World

France, Germany to agree to NATO role against Islamic State - sources | Reuters

By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States

China's Xi says navy should become world class
| Reuters
World

China's Xi says navy should become world class | Reuters

BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.