last one, page-2

yes, Japan's hunger for coal, thye'll need plenty of it and will shop aroung , the Roo is well positioned to be a major supplier.
JAPANESE companies will target more Australian gas and coal assets as the nation reduces its reliance on nuclear power, according to a top-ranking member of the country's government.

Masayuki Naoshima - vice-president of the Japanese upper house, a former minister of economy, trade and industry and senior member of the the ruling Democratic Party of Japan - arrived in Australia last week to hold talks with Prime Minister Julia Gillard.

During his visit he told BusinessDay that liquefied natural gas (LNG) and coal assets are on the top of the Japanese shopping list.

Advertisement: Story continues below

Japan turned off its last nuclear reactor over the weekend, in the wake of the accident at Fukushima in 2011.

''Australia is one of the most important countries for Japan in terms of natural resources supply,'' Mr Naoshima said. ''After the earthquake, our demand for LNG and coal have increased … our investment in natural resources will increase in the future.''

Mr Naoshima said the recent Japanese investment in the Darwin-based $32 billion Ichthys gas export venture by Inpex Corp was an example of his country's appetite for LNG investment.

Japanese oil and gas explorer Inpex Corp holds a 72.8 per cent stake in the venture, with France's Total holding 24 per cent and three Japanese utilities the balance of the equity.

Takashi Tsuchiya, managing director of the Japan External Trade Organisation (JETRO) in Australia, said LNG ''has huge potential for Japanese import'' as an alternative to nuclear energy.

''Nuclear energy is necessary in Japan for electricity generation. However, after Fukushima we need to reconsider Japan's energy source mix … LNG is expected to grow in its importance as an energy source.''

Tokyo is also supporting its companies investing in Australia and mainly through Jogmec, the Japanese state company that provides technical and financial support to overseas natural resources investments.

General manager of Jogmec Australia, Tomio Harada, said Japanese trading houses, gas and power utilities had keen interest in LNG projects in Australia.

''Because LNG projects need so much money, private Japanese investors need to borrow money from private banks and Japanese government,'' he said.

''There is speculation that a big portion of money will be from government, maybe through Japan Bank for International Co-operation. Minority will be by private banks.'' Japanese companies are involved in eight major LNG projects in Australia, from the Gorgon project in Western Australia to Curtis Island in Queensland.


Read more: http://www.brisbanetimes.com.au/business/japan-flags-hunger-for-lng-coal-20120507-1y8zk.html#ixzz1uEnEprRs