Japan's top gas buyer mulls joining Alaska LNG export project
Jera is considering participating in a proposed liquefied natural gas (LNG) export project in Alaska, as part of Japan's efforts to negotiate a trade deal with the United States.
"We see Alaska as one of the promising procurement sources,' Naohiro Maekawa, an executive officer at the world's biggest LNG buyer, said at a news conference on Monday.
The long-delayed $44 billion Alaska LNG facility is trying to court Asian importers, including Japan, South Korea and Taiwan, and has became a pet project of U.S. President Donald Trump. The plant has been proposed in various forms for decades, but has struggled to secure binding long-term contracts and investment, and requires the construction of a pipeline stretching more than 1,300 kilometers.
Prime Minister Shigeru Ishiba said earlier this month that the project should be included in a trade package, while South Korea may also consider participating. The U.S. is seeking a summit to discuss the project with Japan and South Korea's ministers on June 2, the New York Times reported.
Jera, Japan's biggest electricity producer, earlier Monday said its profit slumped 54% to ¥183.9 billion ($1.3 billion) in the financial year through March, due to lower income from power generation domestically and abroad. The company sees profit for this year at ¥230 billion.
Tokyo Gas, another Japanese LNG buyer, said it is also monitoring Alaska LNG.
"We will keep a close eye on the project,' chief financial officer Taku Minami said at a briefing on Monday. The company isn't in talks to increase imports of U.S. LNG in 2026, he added.
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