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Energy

Japan to pump $10bn into LNG as move away from Mideast oil

World's top importer to fund processing, receiving and power facilities

A natural gas facility in Inner Mongolia, China: Demand for liquefied natural gas is surging in emerging markets, and Japan hopes to help provide the necessary infrastructure.   © Reuters

TOKYO -- Japan's public and private sectors plan to invest $10 billion to encourage broader use of liquefied natural gas around the world, Nikkei has learned, as mounting tensions in the Middle East underscore the dangers of relying on the region's oil.

Tokyo envisions funding such projects as processing plants, receiving terminals and power generation. Industry minister Isshu Sugawara will announce the plan at the annual LNG Producer-Consumer Conference here on Thursday.

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