Japan’s Top LNG Importer Will Explore Buying From Alaska
(Bloomberg) -- Japan’s largest liquefied natural gas importer, JERA Co., signaled it would consider buying the fuel from an export project in Alaska that has been championed by US President Donald Trump, as companies and government officials travel to the northern state for a week of negotiations and deals.
JERA, which is also the Asian nation’s largest power producer, submitted its expression of interest ahead of a summit next week, said people with knowledge of the matter. JERA did not specify how much LNG the company would potentially buy, said the people, who asked not to be identified because the talks are private.
JERA declined to comment regarding the expression of interest.
The move is a small step forward for the $44 billion Alaska LNG export project, which has been proposed in various forms for decades but has so far struggled to secure binding long-term contracts and investments. It comes as Japan’s government is seeking to smooth the path to a tariff deal with the US.
The Alaska Sustainable Energy Conference is not centered on the LNG project alone, but US proponents are using the gathering as a timely opportunity to gather support — while Asian gas buyers are seizing the moment to gain favor with Washington at a critical juncture in trade talks.
Takehiko Matsuo, vice minister for international affairs at Japan’s Trade Ministry, will attend the gathering, Japanese Trade Minister Yoji Muto said to media on Friday.
Taiwan will also send a delegation to the conference. South Korea’s energy ministry and Korea Gas Corp. are expected to attend the same discussions, the Herald Business Newspaper reported earlier this week.
(Updates with Jera’s comment in the third paragraph.)
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