In response to the Federal Energy Regulatory Commission (FERC) granting its certificate for the CP2 LNG export terminal, which has Japanese offtake agreements, Susanne Wong, Asia Program Manager at Oil Change International, said:

“Japan’s contracts for CP2 are fueling a carbon bomb that threatens local communities and our global climate.  The Japanese government and private banks have poured billions of dollars into US LNG, causing massive harm to communities, ecosystems and our planet. Japanese banks MUFG, like Mizuho, MUFG, and SMBC stand out as the top 3 private financiers for US LNG terminals and are continuing to plow money into these projects. JERA and INPEX, Japan’s largest gas and oil companies, signed 20-year contracts to purchase LNG from CP2. 

“Projects like CP2 will never be built because of fierce opposition by frontline communities. But instead of taking note, Japanese financiers and companies are doubling down on support for US LNG which poses tremendous financial, social and environmental risks.”

 

Leave a Reply

Your email address will not be published. Required fields are marked *