Latest news with #AlaskaLNGProject
Hindustan Times
3 days ago
- Business
- Hindustan Times
Japan to send a senior official to Alaska energy conference
TOKYO, - Japan's Economy, Trade and Industry Minister Yoji Muto said on Friday that a senior official will attend an energy conference in Alaska early next week, where the proposed $44 billion Alaska LNG project is expected to be discussed. Takehiko Matsuo, the ministry's Vice-Minister for International Affairs, will participate in the Alaska Sustainable Energy Conference, scheduled for June 3-5, Muto said. The conference starts the day after talks scheduled by the Trump administration, which invited officials from Japan, South Korea and Taiwan to Alaska to discuss projects including a vast gas pipeline, as Asian governments consider U.S. investments in the hopes of relief from Washington's tariffs. It was not immediately clear whether Matsuo would attend the event on June 2, which will be hosted by Trump's energy czar, Interior Secretary Doug Burgum, and Energy Secretary Chris Wright. Muto said Japan has been in communication with the U.S. regarding pipeline construction and other issues, adding, "I expect meaningful discussions will be held this time as well." Japan's biggest LNG buyer JERA has sent an "expression of interest" to Glenfarne in the Alaska LNG Project, Bloomberg News reported on Friday. Glenfarne is the development partner of state-run Alaska Gasline Development Corporation . South Korea will send its Deputy Minister for Energy Policy and other energy ministry officials to the Alaska Sustainable Energy Conference, the ministry said on Thursday, as some Asian countries consider investing in the Alaska LNG project. Meanwhile, Friends of the Earth Japan said on Thursday that more than 150 groups from Japan and around the world sent an open letter to the Japanese Prime Minister urging the country not to join the costly Alaska LNG project. "For Japan, Alaska LNG is absolutely unnecessary. Japanese companies resold 37% of LNG they handled because Japan is buying LNG much more than it needs," said Hiroki Osada, a campaigner at Friends of the Earth Japan. "Starting another new LNG project is already a horrible decision considering this, but it is even more outrageous given it also exacerbates climate change beyond threshold, and destroys the indigenous way of life and the biodiversity in Alaska," he added.
Epoch Times
02-05-2025
- Business
- Epoch Times
US Natural Gas Stockpile Sees Biggest Jump in 2 Years: EIA
Natural gas stocks in storage in the United States rose by 107 billion cubic feet (Bcf) for the week ending April 25, according to a May 1 This is the highest weekly gas stockpile addition in nearly two years. A buildup in gas inventories can happen due to several factors such as an increase in production or a decline in demand. In a May 2 The high stockpile addition comes as an April 17 This could change over the next four years as the Trump administration has taken several measures to boost natural gas production in the United States. Related Stories 5/1/2025 4/28/2025 The council 'will advise President Trump on strategies to achieve energy dominance by improving the processes for permitting, production, generation, distribution, regulation, and transportation across all forms of American energy,' according to a White House fact sheet The first mission of the council is to devise a strategy that cuts federal regulation, advances innovation, and boosts investments from the private sector. A month later, The executives 'are eager to unleash American energy after four years of Biden's radical climate regulations,' said White House spokesperson Taylor Rogers, adding that the president reaffirmed his commitment to restoring America's energy dominance. The Trump administration policies have At present, there are eight operational LNG export terminals in the country, all of which are in Louisiana or Texas. Meanwhile, gasoline prices under the Trump administration are down year over year. As of Friday, the national average price of regular gasoline was $3.18 per gallon, down by more than 13 percent from $3.67 a year back, according to data from the American Automobile Association. Promoting Natural Gas Development In an April 29 statement, Secretary of Energy Chris Wright highlighted the Trump administration's achievements in the energy sector during the first 100 days of the administration. To boost the natural gas sector, the administration instituted several measures, including a reversal in a Biden-era pause on LNG exports, discussions to advance the Alaska Gas Pipeline and Alaska LNG Project, removal of regulatory barriers to the use of LNG as marine fuel, and removal of regulatory barriers thwarting LNG export extensions. 'Following President Trump's reversal of the reckless Biden LNG export ban, the Department of Energy, in just 100 days, has approved record levels of future U.S. LNG, adding almost as much incremental capacity as the world's second and third largest LNG nations are exporting today,' Wright Natural gas prices have been rising this week after an April 28 EIA analysis revealed that the country's gas inventories in underground storage had ended the recent winter season at a three-year low. In January and February, much of the United States experienced 'colder-than-normal temperatures,' due to which more natural gas was used by consumers and more withdrawals were made from the country's natural gas storage. 'By the end of March, the least amount of natural gas was held in U.S. underground storage in the Lower 48 states since 2022, with inventories 4% lower than the previous five-year average for that time of year,' the report said. Lower 48 refers to the contiguous United States, excluding the states of Alaska and Hawaii. For 2025, EIA is expecting U.S. natural gas demand to grow by 4 percent, which includes a 9 percent increase in residential and commercial consumption for heating purposes, according to an April 10 Energy Outlook Since more stocks were drawn out from storage than average this winter season, EIA is expecting 'higher natural gas prices this year.'
Yahoo
12-03-2025
- Business
- Yahoo
Anchorage judge dismisses lawsuit challenging trans-Alaska gas pipeline on climate grounds
Nesbett Courthouse in downtown Anchorage on Oct. 7, 2024. (Photo by Yereth Rosen/Alaska Beacon) An Anchorage Superior Court judge has dismissed a lawsuit challenging the proposed trans-Alaska natural gas pipeline as incompatible with the state constitution. The suit, filed last year, alleges that the founding laws of the Alaska Gasline Development Corp. are incompatible with the Alaska Constitution's guarantee of equal access to natural resources because the liquefied natural gas pipeline would result in so much climate change that it would destroy access to fish and wildlife. The state had moved to dismiss the lawsuit, and the plaintiffs made a countermotion, leading Judge Dani Crosby to rule on summary judgment. In her ruling Tuesday, Crosby sided with the state of Alaska, whose attorneys had argued that the lawsuit is substantially similar to previous cases decided by the Alaska Supreme Court. In a written statement, the law firm Our Children's Trust — which has been representing the plaintiffs — said it would appeal Crosby's decision to the Alaska Supreme Court. When the lawsuit was filed, the eight plaintiffs ranged in age from 11 to 22. 'Today's ruling is a clear miscarriage of justice with enormous implications. Alaska's Constitution expressly guarantees equal access to and sustainable yield of the critical natural resources Alaska's youth need to sustain their lives, health, and cultures,' wrote attorney Andrew Welle for the plaintiffs. 'Today's decision eviscerates these protections by placing not only the Alaska LNG Project but all natural resource management decisions beyond review by Alaska's Courts, upending decades of precedent.' The AKLNG project envisions a pipeline running from the North Slope to Cook Inlet, with industrial-scale facilities at either end to handle the natural gas. As yet, construction work on the pipeline has yet to commence due to a lack of funding. The Alaska Department of Law, which represents the state in the case, did not have an immediate comment on the ruling. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
Yahoo
25-02-2025
- Business
- Yahoo
Trump Bets Big on Asia for U.S. Energy Dominance
Japan is planning to step up its imports of U.S. natural gas by potentially taking a stake in a $44-billion LNG project in Alaska—and it is not the only Asian energy importer to consider boosting U.S. energy supplies. President Trump is happy to enable this boost, with Asia turning into Trump's new energy dominance focus. On his first day in office, President Trump signed an executive order aiming to unleash 'Alaska's extraordinary resource potential,' which includes 'prioritize the development of Alaska's LNG potential, including the permitting of all necessary pipeline and export infrastructure related to the Alaska LNG Project, giving due consideration to the economic and national security benefits associated with such development.' Less than two weeks later, Reuters reported that Japan had expressed interest in participating in the project as a stakeholder and long-term buyer. It's not just about diversifying sources of energy imports. It's also about avoiding Trump's tariff threat, especially after the trade partners of the United States saw he was not joking when he slapped tariffs on Mexico and Canada. Last week, the Interior Secretary and the head of the new National Energy Dominance Council, Doug Burgum, indicated that Asia would be the focal point of energy dominance efforts in Washington. 'When we sell LNG to our friends and allies - from places like Alaska into Japan and South Korea and the Philippines - it not only helps stabilise the world, it also reduces our trade deficits,' he said during a speech to senators, as quoted by is worth noting that just because the Trump administration wants to see a boost in U.S. exports of liquefied natural gas to Asia, it does not mean it no longer cares about their growth in the European destination. Exports of LNG to Europe are important. They are simply not as important as exports to Asia. Because Asia is the region with the fastest economic growth on the planet. Europe, to put it mildly, is not. Last year, Europe guzzled as much as 55% of total U.S. exports of liquefied natural gas. That compared to 34% for Asia, and most of the remainder went to Latin American countries. This year started strongly for European purchases, too, as gas storage depleted fast, with Europe taking in 86% of all U.S. LNG exports in January. At one point, traders even began diverting cargoes from Asia to Europe because demand in Asia was lukewarm, while in Europe, it was soaring—and prices were following. However, this is a short-term development. Europe is desperate to get its hands on some gas, any gas, right now because winter season is not over yet, and its gas in storage level is at 40%, which is much lower than it was in the last two years. Then it would be replenishing season and this will keep European demand high, curbing demand from Asia. Again, this is a short-term development. Because Europe cannot survive economically by buying expensive energy. At some point, prices will curb demand—as will, theoretically, energy transition targets. Asia is doing much better in terms of economic development, not least because it has been less enthusiastic about the energy transition. Asian economies are growing, and they are wary of instituting hard targets for emission reduction. They also appear to have a much more realistic attitude to their future energy needs, as demonstrated by the Japanese government in its communication with Washington. 'If the Trump administration were to have its way, U.S. LNG would flow in massive quantities to Japan and South Korea and then would flow downstream... so that Southeast Asia would become economically dependent on the United States,' Kenneth Weinstein, who heads Japan analysis at the Hudson Institute think tank, told Reuters. 'It's redrawing the map of energy dependence.' This might be a bit too strong a description of the situation. One reason that Asia economies have been doing better in terms of energy supply than Europe is that they are open to all sources of energy as long as the price is right. Just because they will be importing more LNG from the United States it would not mean they would be shunning other major exporters such as Qatar and Australia—growing economies take a lot of energy to fuel. And they know how important diversification is. Exports of liquefied natural gas from the U.S. have been running at a record lately. This is good news for both importers and exporters, but it is not necessarily the new normal. Demand for electricity—and natural gas, consequently—is set to grow substantially in the U.S. itself, and prices would need to remain affordable to avoid a Norway electricity price scenario. The Trump administration would certainly encourage more gas production to keep feeding record exports and domestic supply, but the potential for this production growth is not exactly endless. So, the new U.S. administration may be aiming for global energy dominance, but what this would most likely mean is simply greater supply to key importers rather than creating dependencies. In the end, it always comes down to price. By Irina Slav for More Top Reads From this article on
