US and Japan unveil $36bn of oil, gas and critical minerals projects

Japan has drawn up plans to invest about $36bn in US oil, gas and critical mineral projects under the first wave of a deal with Donald Trump. The US president and Japan’s prime minister, Sanae Takaichi, announced a trio of projects that include a power plant in Portsmouth, Ohio, described by the administration as the largest natural gas‑fired generating facility in US history.

The White House said Japan would also invest in a deepwater crude oil export facility off the coast of Texas and a synthetic industrial diamond manufacturing site. Most of the first wave will go to the Portsmouth plant, which the administration said will generate 9.2 gigawatts of electricity each year and will be operated by SB Energy, a subsidiary of SoftBank Group.

United States, Portsmouth, Ohio

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