Japan's JAPEX to withdraw from LNG terminal project in Vietnam's north

Japan Petroleum Exploration Co

02/03/2026 05:25

TOKYO, March 2 (Reuters) - Japan Petroleum Exploration Co 1662.T has decided to withdraw from a project to construct a liquefied natural gas terminal in Vietnam's north, the company said in a statement on Monday, and will transfer its shares in the project to its partners there.

The project, which involves the construction of an LNG terminal with a receiving capacity of up to 650,000 tones of LNG annually and a storage tank, is planned to be built in Hai Phong City, JAPEX said. JAPEX decided to withdraw as it is difficult to secure the right economics for the project, it said.

 (Reporting by Katya Golubkova; Editing by Himani Sarkar)

 ((jekaterina.golubkova@thomsonreuters.com;))