NHK has learned that Japanese trading firms and the country's biggest power generation company are expected to sign a new long-term deal to import liquefied natural gas from Oman.
Sources say Mitsui & Co., Itochu and Jera have decided to import more than 2 million tons of LNG annually from 2025, over a period of about 10 years.
A basic agreement is expected to be signed in Oman on Tuesday, in the presence of Japan's industry minister Nishimura Yasutoshi, who is visiting the Arab nation.
The deal comes amid a global shortage of LNG due to Russia's invasion of Ukraine.
Japan views Oman as an important partner for energy security, as the Gulf state's location outside the Strait of Hormuz makes it less vulnerable to regional conflicts.
Japan's LNG imports from Oman currently stand at over 1.9 million tons per year, accounting for 2.6 percent of its imports of the energy source. Mitsui and Itochu have stakes in Oman's LNG projects.
Sources say other Japanese firms are also negotiating fresh deals with Oman, and if they materialize, Japan's annual LNG imports from the country could increase significantly.
Sources say Mitsui & Co., Itochu and Jera have decided to import more than 2 million tons of LNG annually from 2025, over a period of about 10 years.
A basic agreement is expected to be signed in Oman on Tuesday, in the presence of Japan's industry minister Nishimura Yasutoshi, who is visiting the Arab nation.
The deal comes amid a global shortage of LNG due to Russia's invasion of Ukraine.
Japan views Oman as an important partner for energy security, as the Gulf state's location outside the Strait of Hormuz makes it less vulnerable to regional conflicts.
Japan's LNG imports from Oman currently stand at over 1.9 million tons per year, accounting for 2.6 percent of its imports of the energy source. Mitsui and Itochu have stakes in Oman's LNG projects.
Sources say other Japanese firms are also negotiating fresh deals with Oman, and if they materialize, Japan's annual LNG imports from the country could increase significantly.
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Summary
Japanese trading firms Mitsui & Co., Itochu, and Jera are expected to sign a long-term deal with Oman's power generation company to import over 2 million tons of LNG annually from 2025. This agreement is scheduled for signing on Tuesday in the presence of Japan's industry minister, amid global LNG
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ID: 10e1ecc6-4ffa-44e2-8387-976204de14fd
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20221227_14/
Date: Dec. 27, 2022
Created: 2022/12/27 17:47
Updated: 2025/12/09 09:54
Last Read: 2022/12/27 19:48