ANNOUNCEMENT 17 Jun 2019

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) through equity financing of their LNG project in Mozambique. 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

JOGMEC (2019) 三井物産株式会社のモザンビーク共和国における天然ガスの開発・液化事業の出資採択について JOGMEC Provides Equity Financing to Mitsui’s LNG Project in the Republic of Mozambique
Available at:
http://www.jogmec.go.jp/news/release/news_03_000034.html

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. 

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