According to The Australian Financial Review, Japan’s largest bank, MUFG, is keen to back the development of a hydrogen industry in Australia and will maintain lending to major LNG projects, which, it says, is compatible with its commitments to net zero as carbon capture and storage technology improves.
Rob Ward, a Sydney-based managing director at MUFG Bank – which has $20 billion of loans in Australia where it is one of the largest providers of project finance – said large Japanese industrial companies, which it banks in both countries, would play an integral role driving demand for new energy sources, including green hydrogen.
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