INPEX Holdings Inc. has revealed that its wholly-owned Tokyo-based subsidiary Teikoku Oil Co. Ltd. has decided to construct an LNG receiving terminal in the port of Naoetsu in Joetsu city, Niigata Prefecture of Japan.
The company notes that demand for the natural gas it supplies has been steadily increasing against the background of factors such as rising awareness for environmental preservation and energy conservation, as well as soaring prices for crude oil,
It anticipates to follow a firm trend in the foreseeable future as well.
From August 2007, the company embarked on studies with a view to constructing an LNG receiving terminal in Joetsu city (Naoetsu port) in order to ensure a sufficient capacity for supply of natural gas into the medium and long terms.
The proposed site of construction is to be the Arahama Pier zone in the Port of Naoetsu, with an estimated investment cost of around Y100bn, including the cost of land acquisition. Start of construction is tentatively projected for 2009, while start of operation is scheduled for 2014.