Latest news with #NaohiroMaekawa
Yahoo
02-05-2025
- Business
- Yahoo
QatarEnergy negotiating long-term LNG supply deal with Japanese companies
QatarEnergy is reportedly in advanced discussions with Japanese companies to secure a long-term liquefied natural gas (LNG) supply deal of at least three million tonnes per annum (mtpa) from the company's North Field expansion project, reported Reuters, citing sources. If finalised, the deal would reinforce Qatar's long-standing influence in the Japanese market amidst growing competition from the US and other Gulf suppliers. This development comes after reports in October suggested Qatar was struggling to secure term deals with east Asian buyers due to competitive pressures, the report said. Japan, as the world's second-largest LNG buyer after China, imported 65.89 million tonnes (mt) of LNG last year. Qatar's prominence as a key supplier to Japan is well-established, with substantial shipments in the years following the 2011 Fukushima disaster. The Japanese entities involved in the talks with QatarEnergy include JERA, the country's largest power generator, and trading house Mitsui & Co. While the discussions are private, a JERA executive highlighted the importance of diversifying their supply sources at a recent earnings briefing. JERA financial strategy and planning division head Naohiro Maekawa was quoted as saying: 'Asia-Oceania currently accounts for more than half of our procurement sources. For supply stability, expanding options to regions like North America and the Middle East would be beneficial.' Mitsui confirmed ongoing discussions with various sellers to secure a stable LNG supply but refrained from disclosing specifics, the report said. QatarEnergy, which did not respond to an immediate request for comment, was the world's third-largest LNG exporter in 2024, with exports reaching 79.54mt, as per Kpler data. Qatar is ambitiously planning to boost its LNG output by 85% to 142mtpa by 2030, a significant increase from the previously projected 126mtpa. QatarEnergy has also secured a 25-year condensate supply deal with Shell International Eastern Trading Company, a subsidiary of Shell. Set to start in July 2025, this contract will see up to 285 million barrels of condensate supplied over its duration. "QatarEnergy negotiating long-term LNG supply deal with Japanese companies" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Zawya
01-05-2025
- Business
- Zawya
QatarEnergy in talks with Japan on long-term LNG supply deal
One of the world's biggest liquefied natural gas suppliers, QatarEnergy, is in talks with Japanese firms for a long-term deal to supply LNG from its North Field expansion project, five trading and industry sources told Reuters. Under the deal, Qatar would supply a consortium of Japanese importers, and a volume of at least 3 million metric tons per annum of gas would be split between them, four of the sources said. If agreed, it would help to confirm Doha's decades-old dominance of the Japanese market, as competition intensifies from the United States and from neighbouring Gulf suppliers, the United Arab Emirates and Oman, that offer more flexible contract terms. It would also be the first deal since Reuters reported in October that Qatar was finding it hard to agree to LNG term deals with east Asian buyers in Japan and South Korea due to competition. The buyers in talks with QatarEnergy include JERA, Japan's largest power generator and trading house Mitsui & Co, said four of the sources, who declined to be identified as they were not authorised to speak to the media. QatarEnergy did not immediately respond to a Reuters request for comment, while JERA said it is in discussions with various suppliers for LNG procurement. It recognised Qatar as an important supplier, but said it would not disclose specific details of its discussions. At an earnings briefing on Monday, a JERA executive said the company needed to diversify its sources of supply. "Asia-Oceania currently accounts for more than half of our procurement sources. For supply stability, expanding options to regions like North America and the Middle East would be beneficial," Naohiro Maekawa, head of the financial strategy and planning division, said. When asked if the company is in talks with QatarEnergy over a long-term LNG contract, Mitsui said it is in discussions with various sellers to ensure stable LNG supply, but would not provide details of individual discussions. NORTH FIELD EXPANSION Qatar was the third largest LNG exporter globally after the U.S. and Australia last year, exporting 79.54 million metric tons of LNG in 2024, according to data from analytics firm Kpler. The Middle Eastern country is planning for an 85% expansion in LNG output from its North Field's current 77 million tons per annum to 142 mtpa by 2030, from a previously expected 126 mtpa. Japan is the world's second biggest LNG buyer after China, with its trade data showing imports of 65.89 million tons of the fuel last year. Qatar had been among Japan's top three LNG suppliers a decade ago, shipping over 15-16 mtpa to the East Asian country between 2012-2014. The surge followed Qatar's support in ramping up LNG exports after the 2011 earthquake and tsunami triggered the Fukushima nuclear disaster, leading to the gradual shutdown of all Japanese nuclear reactors. But those volumes have since shrunk, as Japan's nuclear reactors have slowly restarted. JERA also chose not to renew its long-term contract with Qatar for 5.5 mtpa, which expired at the end of 2021. Qatar exported just under 3 million tons to Japan last year, Kpler data showed. A senior JERA executive told Reuters in January that his company planned to increase its LNG purchases from the United States to diversify its supply and meet demand growth spurred by data centres and AI and also plans to talk to suppliers in the Middle East to help diversify its suppliers. (Reporting by Marwa Rashad in London, Emily Chow in Singapore, Yuka Obayashi in Tokyo and Maha El Dahan in Dubai; Editing by Nina Chestney and Barbara Lewis)
Reuters
01-05-2025
- Business
- Reuters
Exclusive: QatarEnergy in talks with Japan on long-term LNG supply deal
LONDON/SINGAPORE, May 1 (Reuters) - One of the world's biggest liquefied natural gas suppliers, QatarEnergy [RIC:RIC: is in talks with Japanese firms for a long-term deal to supply LNG from its North Field expansion project, five trading and industry sources told Reuters. Under the deal, Qatar would supply a consortium of Japanese importers, and a volume of at least 3 million metric tons per annum of gas would be split between them, four of the sources said. here. If agreed, it would help to confirm Doha's decades-old dominance of the Japanese market, as competition intensifies from the United States and from neighbouring Gulf suppliers, the United Arab Emirates and Oman, that offer more flexible contract terms. It would also be the first deal since Reuters reported in October that Qatar was finding it hard to agree to LNG term deals with east Asian buyers in Japan and South Korea due to competition. The buyers in talks with QatarEnergy include JERA, Japan's largest power generator and trading house Mitsui & Co (8031.T), opens new tab, said four of the sources, who declined to be identified as they were not authorised to speak to the media. QatarEnergy did not immediately respond to a Reuters request for comment, while JERA said it is in discussions with various suppliers for LNG procurement. It recognised Qatar as an important supplier, but said it would not disclose specific details of its discussions. At an earnings briefing on Monday, a JERA executive said the company needed to diversify its sources of supply. "Asia-Oceania currently accounts for more than half of our procurement sources. For supply stability, expanding options to regions like North America and the Middle East would be beneficial," Naohiro Maekawa, head of the financial strategy and planning division, said. When asked if the company is in talks with QatarEnergy over a long-term LNG contract, Mitsui said it is in discussions with various sellers to ensure stable LNG supply, but would not provide details of individual discussions. NORTH FIELD EXPANSION Qatar was the third largest LNG exporter globally after the U.S. and Australia last year, exporting 79.54 million metric tons of LNG in 2024, according to data from analytics firm Kpler. The Middle Eastern country is planning for an 85% expansion in LNG output from its North Field's current 77 million tons per annum to 142 mtpa by 2030, from a previously expected 126 mtpa. Japan is the world's second biggest LNG buyer after China, with its trade data showing imports of 65.89 million tons of the fuel last year. Qatar had been among Japan's top three LNG suppliers a decade ago, shipping over 15-16 mtpa to the East Asian country between 2012-2014. The surge followed Qatar's support in ramping up LNG exports after the 2011 earthquake and tsunami triggered the Fukushima nuclear disaster, leading to the gradual shutdown of all Japanese nuclear reactors. But those volumes have since shrunk, as Japan's nuclear reactors have slowly restarted. JERA also chose not to renew its long-term contract with Qatar for 5.5 mtpa, which expired at the end of 2021. Qatar exported just under 3 million tons to Japan last year, Kpler data showed. A senior JERA executive told Reuters in January that his company planned to increase its LNG purchases from the United States to diversify its supply and meet demand growth spurred by data centres and AI and also plans to talk to suppliers in the Middle East to help diversify its suppliers.
Japan Times
28-04-2025
- Business
- Japan Times
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.
