Latest news with #NobuhiroSugesawa
Japan Times
16 hours ago
- Business
- Japan Times
Japan seeks gas past 2050, with AI and data centers set to lift demand
Japan is encouraging energy importers to secure liquefied natural gas (LNG) past 2050 — the deadline the second-biggest buyer of the fossil fuel has set itself for net zero emissions. Several of the country's largest LNG buyers are considering 20-year supply deals with projects that would start after 2030, according to people with knowledge of the discussions, who asked not to be named as the negotiations are private. They aim to deploy technology such as carbon capture and storage to mitigate the emissions from burning the super-chilled fossil fuel under Japan's national target. The government expects a boom in artificial intelligence, data centers and semiconductor chip-making factories to revive power demand, which has been tracking a declining population for years. It sees LNG as vital to energy security, even as it works on increasing renewable energy generation and restarting nuclear reactors idled after the 2011 Fukushima No. 1 disaster. "During the transition period toward carbon neutrality by 2050, we believe LNG will continue to play an important role,' Nobuhiro Sugesawa, a senior managing executive officer at Tokyo Gas, said in an interview. "Even with 15- or 20-year contracts, long-term contracts should remain a core part of our strategy.' In order to adhere to climate commitments and continue using gas-fired power plants, companies are looking to use carbon capture systems or mix the fuel with green ammonia and hydrogen. These technologies have yet to be deployed on a significant scale in Japan. The state-backed Japan Organization for Metals and Energy Security is providing financial support for importers seeking to invest in overseas LNG projects but is also assisting with negotiations, said Hiroyuki Mori, an executive vice president at the organization. "We have to also take care of environmental issues,' like methane emissions control or carbon capture, he said. Japan will require about 74 million metric tons of LNG by fiscal year 2040 if it only curbs greenhouse gas emissions by 61% from 2013 levels, the trade ministry said in an estimate released earlier this year. Japan imported 65 million metric tons last calendar year, according to ship-tracking data. The companies are also looking for LNG supply that is flexible, like that being offered from the U.S. Gulf Coast, as that will allow them to divert shipments to other nations should domestic demand falter, the people said. "Even as we push forward with decarbonization, it remains extremely important to continue utilizing fossil fuels,' Yoshifumi Murase, the commissioner of the Agency for Natural Resources and Energy within the trade ministry, said at a conference in Tokyo this week.
CNA
3 days ago
- Business
- CNA
Tokyo Gas expects no direct impact on LNG buying from Iran-Israel conflict
TOKYO :Japan's biggest city-gas supplier, Tokyo Gas, sees no direct impact on its liquefied natural gas (LNG) procurement from the Iran-Israel conflict, a company executive said on Wednesday. "Since we don't import LNG from Qatar or UAE, our LNG procurement is not directly affected at this time," Nobuhiro Sugesawa, senior managing executive officer, told Reuters on the sidelines of the Japan Energy Summit conference. "But we are monitoring the situation with the utmost interest," he said, noting that escalating tensions in the Middle East could drive up LNG prices and disrupt global supply. The Iran-Israel air war entered a sixth day on Wednesday with concerns the conflict could widen as U.S. President Donald Trump on Tuesday called for Iran's "unconditional surrender", despite the U.S. not being actively involved in the fighting. Sugesawa said the utility may boost procurement from the United States, which currently accounts for about 10 per cent of its total supply, as it is viewed as an attractive source of supply. JERA, Japan's biggest power generator, last week announced that it had agreed to source U.S. LNG from four different providers. Regarding the Alaska LNG project, Sugesawa said Tokyo Gas is interested, noting its historical significance as the company's first-ever LNG imports came from Alaska more than 50 years ago. However, he added that the company would need to assess specific conditions, including economic feasibility, before moving forward. The company mainly buys LNG from Australia, along with Malaysia and Russia.
CNA
3 days ago
- Business
- CNA
Tokyo Gas executive: no impact expected on LNG buying from Iran-Israel conflict
TOKYO :Japan's biggest city-gas supplier Tokyo Gas expects no direct impact on its liquefied natural gas (LNG) procurement from the Iran-Israel conflict, but its is closely monitoring developments as it could influence oil-linked and spot LNG prices, a company executive said on Wednesday. The Japanese utility may increase U.S. LNG procurement as it is seen as an attractive supply source, Nobuhiro Sugesawa, senior managing executive officer, told Reuters on the sidelines of the Japan Energy Summit conference.
Reuters
3 days ago
- Business
- Reuters
Tokyo Gas executive: no impact expected on LNG buying from Iran-Israel conflict
TOKYO, June 18 (Reuters) - Japan's biggest city-gas supplier Tokyo Gas (9531.T), opens new tab expects no direct impact on its liquefied natural gas (LNG) procurement from the Iran-Israel conflict, but its is closely monitoring developments as it could influence oil-linked and spot LNG prices, a company executive said on Wednesday. The Japanese utility may increase U.S. LNG procurement as it is seen as an attractive supply source, Nobuhiro Sugesawa, senior managing executive officer, told Reuters on the sidelines of the Japan Energy Summit conference.
