Sumitomo group to build LNG plant in Japan
Sumitomo group members including Sumitomo Chemical and Sumitomo Metal Mining plan to construct a liquefied natural gas receiving terminal and a gas-fired power plant in Ehime Prefecture, moving away from coal as they upgrade domestic infrastructure. The project will cost around 60 billion yen to 70 billion yen ($541 million to $632 million), with work slated to begin in fiscal 2017. The companies have operated coal-fired plants over the years but are now switching to LNG. Sumitomo Joint Electric Power, financed by a number of Sumitomo group members, will operate the plant with a new company to be formed by Tokyo Gas and Shikoku Electric Power.
