Japan Petroleum Exploration Co., Ltd. (JAPEX) announced that its subsidiary JAPEX Montney Ltd. (a subsidiary in Alberta, Canada) established an office in Calgary, Canada on July 15, 2013 to ensure steady progress of the natural gas development and production project and LNG project in British Columbia, Canada.
JAPEX Montney Ltd. will deploy a total of six employees, including local staff, to the office for now and will proceed with the Projects by operating and managing them in close cooperation with the operator.
JAPEX had acquired a 10% interest of the natural gas blocks in North Montney, British Columbia through our Canadian subsidiary, JAPEX Montney Ltd. as well as 10% interest of Pacific NorthWest LNG Project which is under contemplation located on Lelu Island within the District of Port Edward on land administered by the Port of Prince Rupert (estimated LNG production volume: 12MMtonnes/y), including a commitment to offtake 1.2MMtonnes/y of LNG which is equivalent to the 10% interest.
In order to ensure stability and efficiency of project execution, all partners have a consistent equity interest in the integrated steering framework, from the development of gas, through production and liquefaction, to the offtake of LNG.
JAPEX will further put a continuous effort to develop domestic natural gas infrastructures for a solid supply system, including the projects, planned Soma LNG receiving terminal and related pipeline project.