Inpex Holdings Inc. said Wednesday it plans to develop a gas field in southern Indonesia to produce about 3 million tons annually beginning as early as 2014 in a bid to ensure Japan has a steady supply of liquefied natural gas.
The move came after Russia suspended in September part of Sakhalin-2, an oil and natural gas development project run by a consortium set up by companies in Japan, Britain and the Netherlands.
As LNG demand increases, especially in Europe and the U.S., it is becoming increasingly tough for Japan to secure a steady import, analysts say.