Japan’s Jogmec Weighs Stake Sale in Asia-Pacific LNG Projects
(Bloomberg) -- Japan’s state energy firm is evaluating the sale of its stakes in liquefied natural gas projects across the Asia-Pacific region, potentially to local investors, as the country prepares for growth in demand for the fuel.
The Japan Organization for Metals and Energy Security, better known as Jogmec, has invited bids for “asset valuation and related services for the sale of equity interests in LNG projects in Asia and Oceania,” according to a tender published on Wednesday.
The government-backed company did not identify the projects being considered for potential divestment, and declined to share details in a response to Bloomberg’s request seeking comments.
Jogmec has stakes in several LNG projects across Asia and Oceania, including in joint ventures that own part of Australia’s Wheatstone LNG project and a share in Indonesia’s Tangguh LNG plant.
Managing long-term LNG supplies remains central to energy security for resource-starved Japan. Jogmec’s mandate includes early-stage financing for high-risk resource projects before transferring or selling its stakes to Japanese companies once these become commercially viable.
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