Overview
- Commerce officials detailed three flagship projects: a 9.2‑gigawatt natural gas plant in Ohio, a deepwater crude export terminal off Texas, and a synthetic diamond grit facility in Georgia.
- SB Energy, a SoftBank unit, is slated to operate the Ohio plant; Sentinel Midstream’s Texas GulfLink will build the export terminal projected to enable $20–$30 billion in annual crude shipments; Element Six of De Beers will run the Georgia site.
- Secretary Howard Lutnick said Japan provides capital while returns are structured so Tokyo earns income and the U.S. gains strategic assets, with profit-sharing that shifts toward the U.S. after cost recovery under previously outlined terms.
- The tranche is the first under Japan’s $550 billion U.S. commitment tied to lowered tariffs, with Japanese ministers noting most financing will be JBIC loans and guarantees and only about 1–2% direct equity.
- Project selections followed a joint review and presidential approval under a deal that cut U.S. tariffs on Japanese goods to 15%, with remaining financing details and timelines to be worked through before the Washington summit next month.