JGC Holdings Corporation

Yemen's Iran-backed Houthi group announced it attacked two Saudi oil tankers near the Bab el-Mandeb Strait in the Red Sea, heightening fears of a double blockade that would affect safe passage through both the critical energy chokepoint of the Strait of Hormuz and its alternative route, the Red Sea. In light of this development, energy-related companies such as INPEX, Japan Petroleum Exploration, JGC Holdings, and Chiyoda Corporation are likely to draw attention.

UTM Offshore has signed a gas sales agreement with Seplat Energy and the Nigerian National Petroleum Company for gas from the deepwater Yoho field, advancing Nigeria's first indigenous-led floating liquefied natural gas project. The facility is designed to process 176 million cubic feet per day and is targeting first LNG shipments in 2030, with engineering and pre-construction work already complete. Financing includes debt capital from Afreximbank and equity from NNPC and the Delta State Government, while JGC Holdings and Technip Energies are assessing the EPC contract. The project is part of Nigeria's Decade of Gas Initiative and will also supply around 300,000 tonnes of LPG annually to the domestic market.

Mitsubishi Electric has been selected by the Japan Organization for Metals and Energy Security to verify technologies that use satellite data to identify and measure greenhouse gas emission sources. The publicly solicited project will run through the fiscal year ending March 2027, with Mitsubishi Electric signing a contract to participate. The company aims to commercialize a service that visualizes emissions for companies and local governments, collaborating with Satellite Data Services, JGC Corporation, Mitsubishi Electric Software, GHGSat, and leveraging expertise from MUFG Bank. The verification will focus on methane, which has a higher global warming potential than CO2 and is a key concern in LNG supply chains.