Japan offering $10 billion financial support for renewables, LNG in ASEAN

Japan has offered $10 billion financial support for renewables and LNG import projects in ASEAN, as part of a move to help 10 Southeastern Asian economies with energy transition.

Japan’s Minster of Economy, Trade and Industry Hiroshi Kajiyama proposed various support measures during a virtual meeting on Monday with ASEAN energy ministers, according to a METI statement.

“In light of the unprecedented challenges due to the Covid-19 pandemic, the
meeting recognised the urgency of addressing sustainable post-pandemic recovery
and affirmed the importance of energy transitions towards sustainable development,” the statement said.

During the meeting, Kajiyama proposed Japan’s ‘Asia Energy Transition Initiative (AETI)’, which includes a wide range of support for energy transitions in ASEAN, such as $10 billion financial support, technology development and deployment support.

The projects would include building gas-fired power plants and LNG import terminals.

It also includes human resource development through various training workshops, studies and reports, and knowledge sharing activities such as the proposed Asia CCUS Network, and studying the details of the ‘Asia Energy Transition Finance’ concept, the statement said.

- Advertisements -

Most Popular

Japan’s Chiyoda provides Golden Pass LNG update

Japan's engineer Chiyoda has released an update regarding the construction of the Golden Pass LNG export project in Texas,...

South Korea’s Hanwha to increase stake in NextDecade

South Korean conglomerate Hanwha has agreed to buy more shares in US LNG firm NextDecade to increase its stake...

China’s Wison wins Indonesian FLNG gig from Genting

China's Wison New Energies has secured a contract from a unit of Genting to build a floating LNG unit...

More News Like This

Japan’s LNG imports continue to decline

Japan’s liquefied natural gas (LNG) imports dropped for the second month in a row in February, according to the...

METI says Japan LNG stocks at highest level in five years

Japan's liquefied natural gas (LNG) inventories, held by the country's major power utilities, reached the highest level in five...

Novatek inks hydrogen, ammonia deals with Japan

Russian LNG producer Novatek is teaming up with the Japan Bank for International Cooperation and the Ministry of Economy,...

Japan’s spot LNG price hits 2020 high

Japanese spot LNG cargo prices increased to their highest point this year following record lows in the March-May period...