Money & Banking

JBIC open to support setting up LNG terminals in India

K. R. Srivats New Delhi | Updated on January 09, 2018 Published on December 14, 2017


The Japan Bank for International Cooperation (JBIC) is open to supporting the setting up of liquefied natural gas (LNG) terminals in India, its visiting Governor Akira Kondoh has said.

“We (JBIC) have started approaching various government departments in India, extending our support for setting up of LNG terminal infrastructure,” Kondoh told BusinessLine in an interview here on Thursday.

Kondoh said Japan ranked as the world’s largest importer of LNG and that JBIC had gained expertise in supporting the setting up of LNG terminals (shale gas) in the US. India is the fourth biggest LNG importer in the world.

Asked if any investment proposal for supporting the setting up a LNG terminal in India was before JBIC, Kondoh replied in the negative.

“It’s early days. We are at a preliminary stage. Our mission is to support Japanese companies investing overseas and we could support creation of LNG terminals in India both on the capital and technology front”, he said.

Kondoh said India had started to enter into LNG import contracts with the US.

JBIC’s remarks expressing interest to support the setting up of LNG terminals (re-gasification) in India is significant as it comes close on the heels of India and Japan signing a Memorandum of Cooperation (MoC) for establishing a liquid, flexible and global LNG market.

The MoC was signed during Petroleum Minister Dharmendra Pradhan’s visit to Japan in October this year. The MoC provides a framework to co-operate in facilitating flexibility in LNG contracts, abolition of Destination Restriction clause and also explore possibilities of cooperation in establishing reliable spot price indices reflecting the LNG demand and supply.

Kondoh said he was visiting New Delhi to address a joint conference by JBIC and Exim Bank of India and also to celebrate JBIC moving to a new office at Aerocity in the National Capital Region..

Published on December 14, 2017

A letter from the Editor


Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.