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:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

New York, Florida tell hospitals to speed COVID-19 vaccinations or lose supply
World

New York, Florida tell hospitals to speed COVID-19 vaccinations or lose supply

By Carl O'Donnell and Jonathan Allen NEW YORK (Reuters) - The governors of New York and Florida sought to accelerate the slower-than-expected rollout of coronavirus vaccines by warning hospitals on Monday that they would reduce future allocations to those that fail to dispense shots quickly enough. In New York, hospitals must administer vaccines within a week of receiving them or face a fine and loss of future supplies, Governor Andrew Cuomo said. "I don't want the vaccine in a fridge or a freezer, I want it in somebody's arm," the governor said

UK judge rejects extraditing Assange to U.S., citing suicide risk
World

UK judge rejects extraditing Assange to U.S., citing suicide risk

By Michael Holden LONDON (Reuters) - A British judge ruled on Monday that WikiLeaks founder Julian Assange should not be extradited to the United States to face criminal charges including breaking a spying law, saying his mental health problems meant he would be at risk of suicide. U.S. authorities accuse Australian-born Assange, 49, of 18 counts relating to the release by WikiLeaks of vast troves of confidential U.S

Breakthrough reached in Gulf dispute with Qatar -senior Trump official
World

Breakthrough reached in Gulf dispute with Qatar -senior Trump official

By Steve Holland and Aziz El Yaakoubi WASHINGTON/RIYADH (Reuters) -A breakthrough has been reached in Qatar's three-year-old dispute with Saudi Arabia and three other Arab countries and an agreement aimed at ending their rift is to be signed in Saudi Arabia on Tuesday, a senior Trump administration official said. The development is the latest in a series of Middle East deals sought by Washington - the others involving Israel and Arab states - aimed at building a united front against Iran. As part of the deal, Saudi Arabia will reopen its airspace and land and sea border to Qatar as of Monday, Kuwaiti Foreign Minister Ahmad Nasser al-Sabah said on Kuwait TV ahead of a Gulf Arab summit in Saudi Arabia on Tuesday.