Business
Forrest in hot seat as Japanese exit Port Kembla LNG – The Australian Financial Review
The departure of JERA and Marubeni leave Andrew Forrest’s Squadron Energy as the sole backer of the proposed import terminal.
A spokeswoman for JERA, a combination between Tokyo Electric Power and Chubu Electric Power, acknowledged that the group “proceeds cautiously” before committing to final capital investment.
“Although the Port Kembla project presented an exciting opportunity, we felt more time than was available was necessary for us to invest, and we remain open to future targeted involvement with AIE,” she said.
“JERAs exit from the project will allow AIE to focus on accelerating development of the Port Kembla…
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