Latest news with #AlaskaL.N.G
New York Times
10-03-2025
- Automotive
- New York Times
Japan's trade minister heads to Washington for tariff talks.
Japanese officials are visiting Washington this week to negotiate with the Trump administration ahead of sweeping U.S. tariffs that are set to affect exports, including metals and cars, from Japan and a number of other countries. Japan's trade minister, Yoji Muto, is scheduled to meet with Commerce Secretary Howard Lutnick on Monday, according to a person familiar with the official's itinerary who requested anonymity to discuss plans that could still change. Japan's public broadcaster NHK also reported on the details of the meeting. The meeting is expected to take place two days before the United States is set to impose a 25 percent tariff on all steel and aluminum imports. In addition to seeking exemptions from these tariffs, Mr. Muto is expected to request relief from a potential 25 percent tariff on foreign cars — a measure President Trump has indicated could take effect as soon as April 2. Of all those measures, the auto tariffs would hit Japan's economy the hardest. Automobiles are the country's largest export, and the United States is their top destination. Analysts say that Japan and South Korea, another major car manufacturer, are likely to be most heavily impacted by the policy. At a news conference on Friday, Mr. Muto said he hoped to establish a 'win-win' relationship with the United States during his visit this week. Given the central importance of the auto industry to Japan's economy, he said, 'our main request to the United States is that we continue to build industries together.' Japan has been considering using potential investments in a $44 billion plan to produce and export natural gas from Alaska as a negotiating tool with the United States. When President Trump addressed Congress last week, he said that Japan and South Korea want to work with the United States on the long-stalled project, known as Alaska L.N.G. A spokeswoman for Japan's economy ministry declined to comment on the specifics of Mr. Muto's meetings or their timing.
New York Times
05-03-2025
- Business
- New York Times
Trump Says Japan and South Korea Want to Invest in $44 Billion Gas Project
President Trump said Tuesday that Japan and South Korea have expressed interest in partnering with the United States on a $44 billion plan to produce and export natural gas from Alaska, reviving interest in one of the world's biggest energy projects. The project, known as Alaska L.N.G., involves constructing an 800-mile pipeline from fields north of the Arctic Circle to southern Alaska, where the natural gas would be liquefied and shipped to Asia. China and Japan are the world's two biggest importers of liquefied natural gas. Because of its high costs and the time required for construction, Alaska L.N.G. has been viewed as a long shot within the industry. For years, major energy companies and officials in Japan and South Korea rebuffed requests from Alaskan delegations to participate, stalling the project's decades-long progress. However, under the threat of tariffs from Mr. Trump, officials and executives in Japan, South Korea, and Taiwan have started exploring ways to invest in Alaska L.N.G. The discussions have included financing for the project's infrastructure and signing long-term contracts to purchase its gas. 'Japan and South Korea and other nations want to be our partner with investments of trillions of dollars each,' Mr. Trump said on Tuesday during his address to Congress. 'It's all set to go,' he said of the project, which would be one of the largest energy investments in U.S. history. Mr. Trump promised to boost the production of fossil fuels during his campaign by speeding up the approval of permits and opening up new areas for exploration. Any additional output would push U.S. production beyond already record-high levels. The United States is also the world's biggest exporter of natural gas. Mr. Trump did not explain how the project could see trillions of dollars in investment. But the serious consideration in Alaska L.N.G. shows how, just over a month into his presidency, Mr. Trump is already beginning to make potentially lasting marks on the U.S. energy industry. In his speech, Mr. Trump reiterated his stance on slowing the U.S. transition to renewable energy while revitalizing fossil fuels despite concerns over climate change. 'We have more liquid gold under our feet than any nation on earth,' he said. 'It's called drill, baby, drill.' Venezuela is believed to have the world's largest oil reserves. A spokesman from Japan's government did not immediately respond to requests for comment.
New York Times
27-02-2025
- Business
- New York Times
Trump's Tariff Threats Revive Interest in $44 Billion Alaska Gas Project
New pipeline could shorten L.N.G. trips Proposed pipeline Alaska Nikiski From new export facilities in Alaska, liquified natural gas could reach Japan in about a week. JAPAN U.S. Tokyo It takes about three weeks from states along the Gulf Coast, or about 30 days depending on Panama Canal congestion. Houston Pacific Ocean Proposed pipeline Alaska Nikiski JAPAN U.S. Houston Pacific Ocean Tokyo From new export facilities in Alaska, liquified natural gas could reach Japan in about a week. It takes about three weeks from states along the Gulf Coast, or about 30 days depending on Panama Canal congestion. Note: The Shipping routes are approximate. Sources: Alaska LNG; Searoutes By Weiyi Cai The geography behind a plan to ship natural gas from the North Slope of Alaska to Asia makes good sense. Alaska has vast stores of gas and is just a little over a week at sea from Asia, which has some of the world's biggest importers of liquefied natural gas. But those countries have long been wary of the enormous cost of building the infrastructure to make it happen. That has contributed to a decades-long standstill. Now, Asian buyers are giving the Alaska natural gas project a second look. Their pivot was driven not by a change in the underlying economics, but by an abrupt political shift in Washington, where President Trump is pressuring countries to buy more American energy and appears bent on tapping Alaskan reserves. Under threat of new tariffs, officials and executives in Japan, South Korea and Taiwan are considering ways to participate in the plan called Alaska L.N.G. The $44 billion project involves constructing an 800-mile pipeline from fields north of the Arctic Circle to southern Alaska. From there, the gas would be cooled to liquid form and shipped to Asia. In Japan, a state-owned bank and a government-backed energy group have been exploring whether to provide financing and investment for Alaska L.N.G., according to three people familiar with the matter, who spoke on the condition of anonymity to discuss plans that are in their early stages. Want all of The Times? Subscribe.
