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The future for Japan and South Korea’s NOCs

Both countries, who are big importers in oil and LNG, push ahead

Japan Japan’s government does not have a national oil company (NOC) to speak of, but as the world’s third-biggest oil importer and the largest importer of liquefied natural gas (LNG) – and without any significant domestic hydrocarbons resources - it supports a string of Japanese companies. Since the Fukushima-Dai’ichi nuclear disaster in 2011, which prompted the closure of almost all Japan’s nuclear capacity, these Japanese NOCs have been actively pursuing minor stakes in oil and gas assets, especially in nations with stable financial and regulatory regimes. Japan was the most aggressive of all the Asian nations in its search for overseas oil supplies in the 1970s. Its adventure began in

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