16 Oct 2007

Delegation from Japan in PNG to look into investment in gas production

8:54 am on 16 October 2007

A 24-member delegation from Japan has arrived in Papua New Guinea to look into possible investment in gas production.

The delegation is made up of Japan's eight most powerful companies, including Itochu Corporation, Mitsubishi Gas Chemicals Company, Mitsubishi Heavy Industry and Nippon Oil Exploration Limited.

The JGC Corporation, LNG Japan Corporation, Cosmo Oil Company Limited, the Sumitomo Mitsui Banking Corporation and Japan's Bank for International Co-operation are also there.

The Post Courier reports the visit has the potential to bring in multi-billion-dollar investments into the country from Japan.