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Japan's Inpex to develop domestic gas field amid energy cost surge

Oil company eyes commercialization by 2026 as government hopes to cut imports

Inpex hopes its exploration of a new gas field near its existing Minami-Nagaoka site will yield enough reserves for commercialization in 2026. (Photo by Ryo Mukano)

TOKYO -- Japanese oil giant Inpex will begin to explore a new domestic gas field in November, a move that could pave the way to greater energy security for the resource-poor nation facing rising import costs.

Inpex has already confirmed natural gas reserves in an area near the Minami-Nagaoka gas field, one of the largest in Japan. It will conduct a prospecting survey in the area until June 2023. The company plans to start production in 2026 if those reserves prove sufficient for commercialization.

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