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Sempra Infrastructure entered into a memorandum of understanding (MOU) with the Japan Bank for International Cooperation (JBIC) to cooperate on opportunities to advance the energy transition, the companies announced Feb. 2.
This partnership between Sempra and JBIC is intended to help the companies meet the objectives of a newly implemented memorandum of cooperation between the U.S. Department of Energy and Japan's Ministry of Economy, Trade and Industry in the field of carbon capture, storage, conversion and recycling, and CO2 removal.
Through the MOU, Sempra Infrastructure and JBIC aim to further project structuring to improve the global energy supply chain through LNG, hydrogen and other decarbonization efforts in both the U.S. and Japan.
The MOU is a preliminary, non-binding arrangement, and the development of any project in connection with the MOU is contingent upon completion of the required commercial agreements, securing all necessary permits, obtaining financing and reaching a final investment decision, among other factors and considerations.
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