Japan’s biggest oil and gas explorer, Inpex, has been asked by the government to help with liquefied natural gas (LNG) supply to Europe in the event the Russia-Ukraine conflict disrupts supplies.
Chief executive Takayuki Ueda told reporters on Wednesday said Inpex would try to respond to the request but noted that it would not be easy, as most of its LNG production is linked with long-term contracts.
Inpex is reviewing its asset portfolio amid the global trend towards decarbonisation, the company said in January.
Last year, Inpex sold all its interests in the offshore Angolan block where it had been engaged in the development and production of crude oil, following an exit from Venezuela’s oil and gas assets earlier that month.
“Our core geographic areas for exploration and production (E&P) are Japan, Australia, Indonesia and Abu Dhabi, with an additional exploration focus on the Barents Sea in Norway,” Inpex said.
“We will not sell all E&P assets in other geographic areas, but we will continue to review to optimise our asset portfolio,” the company added.
In an effort to boost cleaner energy assets, Inpex said it would buy an offshore wind power generation company in the Netherlands from Mitsubishi, and purchase a stake in the Muara Laboh geothermal power project in Indonesia.
- Reuters, with additional reporting by George Russell