JBIC and Woodside Move On New LNG Supply to Japan
11.29.2022 By Ella Keskin - NEWS

November 29, 2022 [New Atlas] – Australia’s Woodside Energy has teamed up with the Japan Bank for International Cooperation (JBIC) with the aim of securing a stable supply of energy for Japan and to assist in achieving its decarbonisation goals.


Woodside chief executive Meg O’Neill and JBIC deputy governor Amakawa Kazuhiko met in Tokyo on Tuesday to sign the non-binding memorandum of understanding, which is intended to promote co-operation in the liquefied natural gas sector and the development of new energy products and lower carbon services.

Under the terms of this MoU the duo will identify potential projects on which Woodside may be able to collaborate with Japanese companies, involving LNG supply, new energy products and lower carbon services.

LNG supply projects could include Woodside’s Scarborough project and proposed Browse and Sunrise developments, while new energy products and lower carbon services could include hydrogen, ammonia, carbon capture and storage and carbon capture, utilisation and storage.

Energy security
“This collaboration with JBIC will enable us to continue working co-operatively with our friends in Japan on our shared goals of energy security, pursuing decarbonisation opportunities and sustained prosperity for the Asia Pacific region,” said O’Neill.

She said Woodside’s relationships with the Japanese government, customers and business partners date back to the critical Japanese investment in the Woodside-operated North West Shelf project in the 1980s, which included JBIC (then the Export-Import Bank of Japan) extending its first-ever project financing.

“Japanese buyers underpinned the project by signing long-term gas supply agreements which began with the first Australian LNG cargo arriving in Japan from the Karratha Gas Plant in 1989,” added O’Neill.

“Our relationships, which are built on trust and mutual respect, entered a new phase in 2008 when JBIC signed a loan agreement totalling up to US$1 billion with Woodside as part of a co-financing arrangement for the Pluto LNG project.”

Pro Trial: Access 11,340 Tank Terminal and Production Facilities

11,340 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

Angel CCS JV and Yara Partner for Carbon Capture and Storage Study
04.19.2024 - NEWS
April 19, 2024 [Pipeline & Gas Journal]- The Angel CCS Joint Venture will collaborate with Ya... Read More
Kinder Morgan Meets Profit Estimates, Sees New Demand from AI Operations
04.19.2024 - NEWS
April 19, 2024 [Reuters]- Pipeline and terminal operator Kinder Morgan (KMI.N), opens new tab on ... Read More
Cepsa and Evos Join up for Green Methanol Storage in Spain and the Netherlands
04.19.2024 - NEWS
April 19, 2024 [Storage Terminals Magazine]- Spanish energy company Cepsa has forged an agreement... Read More
Linde to Increase Green Hydrogen Production in Brazil
04.19.2024 - NEWS
April 19, 2024 [Linde]- Linde (Nasdaq: LIN) announced today its subsidiary White Martins will bui... Read More