00:00Japan is considering reviving domestic production of LNG carriers for the first time in more than
00:06half a decade. The move would see Japanese shipbuilders re-enter a market dominated
00:12by South Korea and China as Tokyo looks to bolster its energy security amid a war in Iran.
00:21Local media reported that a shipbuilding working group made up of industry experts
00:27and government officials met on Thursday to discuss proposals to restart domestic LNG carrier
00:33construction. Japan's two top shipbuilders, Imabari and Oshima Shipbuilding, are now in talks to
00:40cooperate on the project. The plan would see Japan build its first LNG carrier since 2019.
00:47But restarting production will not be easy given the sector's highly specialized and technologically
00:53advanced nature. South Korean shipyards accounted for 86 percent of LNG carriers delivered between
00:592020 and 2025, with Chinese yachts making up the remaining 14 percent.
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