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.

Most Popular

Venture Global, Petronas seal 20-year LNG SPA

US LNG exporter Venture Global LNG has signed a 20-year LNG supply contract with Malaysian energy giant Petronas for volumes from the CP2 project in Louisiana.

Golden Pass LNG seeks re-export approval

Golden Pass LNG, a joint venture owned by energy giants QatarEnergy and ExxonMobil, is seeking approval from the US DOE to export previously imported LNG from October, as it nears the launch of the first liquefaction train.

TPDC, Energetech Tantel to develop Tanzanian small-scale LNG plant

State-run Tanzania Petroleum Development Corporation has signed a memorandum of understanding with Energetech Tantel to develop what they say is Tanzania's first small-scale LNG plant.

More News Like This

Japan reports lower May LNG imports

Japan’s liquefied natural gas (LNG) imports dropped by 4.3 percent in May compared to the same month last year, according to provisional data released by the country’s Ministry of Finance.

Japan’s April LNG imports climb

Japan’s liquefied natural gas (LNG) imports rose by 1.7 percent in April compared to the same month last year, according to provisional data released by the country’s Ministry of Finance.

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...