Japan's Biggest oil and natural gas explorer Inpex to accelerate expansion of LNG production and sales

Inpex Corp, Japan's largest oil and natural gas explorer, intends to accelerate its expansion of LNG production and sales on the assumption that the LNG market will remain tight in the medium term, according to its CEO.

"Global LNG market is expected to remain tight in the mid-term due to the structural change of the global natural gas market, especially LNG, since Russian invasion of Ukraine," Inpex CEO Takayuki Ueda told in an interview.

Global gas supply chains have shifted, with European countries seeking to import more LNG to replace Russia's pipeline gas and the US increasing exports of the super-chilled fuel, while Russia is looking to provide more gas to India and China, possibly via pipelines, he said.