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Idemitsu and Altagas will have equal stakes in the partnership, Idemitsu said in a statement. The companies will start feasibility studies for the construction and development of gas liquefaction facilities in Canada and expects them to be completed by 2014.
Idemitsu, Japan's third-largest refiner, has been focusing on overseas opportunities to make up for a gradual fall in oil demand as its domestic market matures.