No Change In Exxon's Japanese LNG Business

Exxon Mobil will keep its Japanese liquefied natural gas business in Japan as it is, reports said quoting a company official.

The company on Sunday announced restructuring plans of its Japan operations and intends to give up its stake in TonenGeneral Sekiyu KK in a $3.9 billion deal.

Exxon considers Japan to be a very important market for LNG and does not see any policy change in foreseeable future regarding the business.

Demand for LNG has increased in Japan as utilities shift to LNG for thermal power production after the nuclear meltdown of last year.