IMPLEMENTATION LEVEL

NFI

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
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Inception date: 17 Jun 2019 | Removal date: open ended

Financial assistance in foreign market

On June 17th, 2019, Japan Oil, Gas and Metals National Corporation (JOGMEC), announced that it would support Mitsui E&P Mozambique Area 1 Ltd. (MEPMOZ), a subsidiary of Mitsui & Co., Ltd., by providing equity financing in order to cover up to 50% of the development and liquefaction expenses of MEPMOZ's LNG project. It is estimated that the total financing will be around 125 billion yen (1.1 billion USD) Besides MEPMOZ's investments in the Mozambique LNG Project other Indian and Thai companies have also contributed to the development of the petroleum fields. It is believed that this newly discovered zone will be one of the largest natural gas fields. 

AFFECTED COUNTRIES

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AFFECTED SECTORS AND PRODUCTS

120 Crude petroleum & natural gas
2709 Petroleum oils and oils obtained from bituminous minerals, crude.
270900 Petroleum oils and oils obtained from bituminous minerals, crude.

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