Japan taps offshore potential

摘要

Japanese engineering and shipping firms are joining Tokyo’s foreign upstream drive alongside the country’s established energy companies and trading firms to tap the growing potential in offshore resource development. Tokyo is encouraging Japanese industries such as the engineering, shipbuilding, shipping and machinery sectors to venture into upstream projects to obtain energy development expertise to strengthen their international competitiveness. The government aims to foster a domestic industry able to provide total engineering solutions across energy development projects. It is targeting an offshore market likely to value around $100bn by 2020 that is expanding rapidly to accommodate Brazil’s sub-salt oil discoveries and proposed floating LNG (FLNG) projects.