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JGC Corporation

JGC Corporation

Industry: 
Energy, Engineering
Symbol: 
TYO:1963
States: 
TX
Country: 
Japan
Contact Information: 
Sources: 

“Iran is poised to build new oil refineries and petrochemical plants, now that it has been freed from international sanctions. Experts warn that investing in the Middle Eastern country is still risky, in part due to sectarian tensions with neighbors such as Saudi Arabia. Yet companies are leery of another risk, too -- missing out on huge opportunities. JGC, Japan's leading plant builder, is one company looking at ways to capitalize on this potentially lucrative market. The Nikkei spoke with Yoshihiro Shigehisa, JGC group's chairman emeritus, about the business outlook in Iran… ‘This is an opportunity to tap a big, promising market. Iran has one of the largest populations in the Middle East, with nearly 80 million people. It has said it will raise its crude oil output in two stages, by 1 million barrels a day. We pulled our employees out of the country because of the sanctions, but we plan to station one or two in Tehran by spring. We expect growing demand for plants, and we hope to strike some deals by the end of this year…’” (Nikkei Asian Review, “JGC looking to land plant contracts in Iran this year,” 3/7/2016)

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“CEOs of 10 large oil, gas, power and petrochemical companies have arrived in Tehran to investigate investment opportunities in Iran's oil and energy industries. The visiting companies include France’s Total, Italy’s Eni, OMV of Austria, Japan’s Mitsui, Chiyoda Corporation, JGC and Mitsubishi Hitachi Power Systems, Germany’s Linde and Siemens, multinational company of FJE, Italy’s Ansaldo STS as well as UK’s Air Liquid." (Mehr News Agency, “CEOs of 10 large companies arrive in Tehran,” 10/18/2015)

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"Earlier this month, Daishiro Yamagiwa, vice-minister of Japan's Ministry of Economy, Trade and Industry (METI), visited Tehran and met top government officials, accompanied by executives from the oil, gas and other industries... Inpex Corp, Japan's biggest energy explorer, JGC Corp, an engineering company, and trading houses Mitsubishi Corp, Mitsui & Co and Itochu Corp joined Yamagiwa on the visit, the Nikkei said." (Reuters, “Japan, Iran to discuss investment pact after sanctions end: Nikkei,” 8/19/2015)

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JGC was hired as a contractor to design the expansion of the National Iranian Oil Refining and Distribution Company's Arak refinery.

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JGC maintains an overseas office in Tehran, Iran. (JGC website."Global network")

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"Japanese energy producer Inpex Corp. (1605.TO) and plant maker JGC Corp. (1963.TO) are included in a list of companies that have been confirmed by the U.S. Government Accountability Office to have either signed an agreement to conduct business, invested capital or received payment for providing goods or services in connection with a Iranian oil, gas, or petrochemical projects during the 2005-09 period.

Inpex has been engaged in the development of the Azadegan oil field in southwestern Iran, and JGC participated in expanding a refinery located in Arak, western Iran, according to the GOA report, which was released April 22.

Members of the U.S. Congress are debating legislation that would impose unilateral sanctions against Iran over its uranium processing activities." (Down Jones Newswires, "Japan Not Too Worried Inpex, JGC On US Sanctions List," 4/27/10)