Statement from Asian Natural Gas and Energy Association:
The Asian Natural Gas and Energy Association fully supports the Government of Japan’s active consideration of the use of public finance to support the expansion of US LNG projects.
Japan’s Minister of Economy, Trade and Industry Koichi Haguida told reporters this week that Japan intends to contribute to starting-up several US LNG expansion projects with public financial support and proceed to cooperate with the US to stabilize global LNG supply.
Natural gas plays an important role in providing affordable and reliable energy to Japanese consumers and businesses and the statements from Minister Koichi recognize that important role. Importantly, natural gas also can play a part in Asia Pacific countries transition to a decarbonized energy future.
These issues of energy supply security and affordability are not confined to Japan.
The Russian invasion of Ukraine has reinforced to governments across Asia that both fuel source and geographic diversity are critical to avoiding vulnerability to supply shocks. Achieving that diversity of fuel source will require a significant contribution from natural gas, in addition to other energy sources.
Energy security and reliability is the foundation of economic development and prosperity, and this fact is well accepted by government’s throughout Asia and informs key energy policy as they transition to net zero emissions by 2050.
The Japanese Government’s desire to collaborate with the natural gas industry, major energy buyers and consumers provides an excellent example of government and industry working together to achieve better energy outcomes.