Japanese energy company JERA could potentially explore Alaska as a possible option for liquefied natural gas (LNG) supply, according to a company executive.
Check out this visual of an LNG tanker, spotted in Japan recently [Reuters/YONHAP]. But that's not all that's happening in the East Asian nation, as it grapples with a slew of international issues.
Behind the Scenes
Japan's influential shipping companies, like Mitsui OSK Lines, Nippon Yusen Kaisha, and K-Line, own a hefty 13% of the world's LNG fleet with 141 vessels [1]. These Japanese behemoths are actively diversifying their suppliers and increasing US imports [5], but not without a fight. For instance, they're making significant strides in technology and sustainability. Case in point: MOL's partnership with Tokyo Gas on an LNG carrier equipped with wind-assisted sails to combat emissions [3].
Geopolitical Chess Game
Japan is engaging in a delicate dance between energy security and human rights. The ongoing Mozambique LNG project is a prime example, as the Japanese players negotiate between withdrawing due to human rights concerns and ensuring enough energy supply [1]. It's a complex web of geopolitical tensions, market adaptations, and decarbonization efforts that keeps the industry on its toes.
Climate Concerns and Human Rights
Japan's push for LNG development isn't sitting well with some critics, who question the continued investment in contested projects [1]. Yet, the country is also taking strides to address these concerns. For example, Osaka Gas launched Japan's first utility-led LNG bunkering service [2][4] and MOL's wind-assisted propulsion technology aims to slash emissions by up to 8% per voyage [3].
Stay tuned, as the evolving circumstances in Japan continue to unfold amid international scrutiny.
- Japan's economy, heavily reliant on the LNG industry, boasts ownership of 13% of the worldwide LNG fleet with 141 vessels.
- Major Japanese shipping companies like Mitsui OSK Lines, Nippon Yusen Kaisha, and K-Line are not only diversifying their suppliers but also increasing US imports.
- The ongoing Mozambique LNG project presents a delicate balance for Japan, as they grapple with energy security and human rights concerns.
- Amidst criticisms for continued investment in contested projects, Japan is simultaneously launching initiatives to address climate concerns and human rights issues.
- For instance, Osaka Gas, a Japanese utility company, introduced Japan's first LNG bunkering service, while MOL's wind-assisted propulsion technology aims to reduce emissions.
- The strategic positioning of Japan in the arena of finance, energy, and oil-and-gas industries continues to be a focus of international attention as numerous developments unfold.
