Source:
The National, Wednesday August 5th, 2015

 A JAPANESE company says a sustained liquefied natural gas (LNG) shipping industry will provide a more direct market for Papua New Guinea’s oil and gas resources.
LNG Japan Corporation gas business department manager Tomonori Mashita said the country’s LNG industry was important in the global energy market and the company was keen to develop the shipping industry.
Mashita said the signing of a memorandum of understanding (MoU) between the LNG Japan Corporation and National Petroleum Company Papua New Guinea (NPCP) yesterday was the first step for the company to bring in LNG shipping and marketing expertise to PNG.
“We’ve (LNG Japan) handled approximately 440,000 million tonnes of LNG imported from Indonesia and other 15 countries and what we have handled is 25 per cent of all LNG imported into Japanese market since 1969 to 2014,” Mashita said.
“LNG business has spread from Japanese markets to countries in the far east including Korea, India, Thailand and China and in recent years Thailand, Indonesia, Malaysia, Singapore have started operations at their own LNG.
“With today’s (yesterday) signed MoU and based on the agreement signed, LNG Japan will be looking for joint ventures in LNG shipping with NPCP that will enable guided and easy access for NPCP and the oil and gas industry to the worldwide energy market, including Japan.
 “LNG Japan is ready to establish a joint venture company with transportation as well.
“The development of the LNG shipping industry in PNG must be a significant step forward for PNG to directly join the global shipping market in LNG.”