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Japan offers $10 billion to support Asian LNG growth

Staff Writer |
Japan has announced a $10 billion public-private initiative to support the expansion of Asia's LNG markets, as the world's largest LNG consumer aims to develop new demand centers, able to absorb growing global supplies.

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The initiative will provide financial support to projects supplying LNG to Asia, or supporting demand creation in the region, which already accounts for over 70% of global consumption, Japanese Minister of Economy, Trade and Industry Hiroshige Seko said.

As part of the initiative, METI will be providing training through public and private funding for a combined 500 personnel over the next five years, for both LNG producers and consumers, Seko said at the LNG Producer-Consumer Conference, held in Tokyo Wednesday.

"Japan will continue to work towards developing liquid LNG markets in Asia, seek specific actions towards creating LNG demand by new LNG utilization measures such as LNG bunkering, and contribute to building international consensus on the benefits of LNG," Seko said.

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