Japan's Latest Shale Buy-In Gets $508M In JOGMEC Equity

Law360, New York (September 17, 2012, 3:43 PM EDT) -- Japan's government-backed energy and mining investor on Friday committed more than $500 million to help Inpex Corp. and JGC Corp. buy into a Canadian shale gas project, the latest in ramped-up equity commitments for the bank, known as JOGMEC.

JOGMEC will buy 40 billion yen ($508 million) worth of shares of a joint venture owned by Inpex and JGC. Last month, the partnership agreed to pay $700 million for a 40 percent stake in the development-stage British Columbia project, which is owned and operated by Canadian...
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