The United States has asked Japan to help Europe with liquefied natural gas if there is an emergency in Europe due to an emergency in Ukraine, Japanese government sources told Reuters on Friday, while Tokyo said it would consider how it could help. .
Japan is a major importer of LNG but must first make sure it has enough supplies for domestic consumption before offering international aid, said Industry Minister Koichi Hagiuda.
Four government sources have confirmed the US request, with one saying it was made earlier this week.
In a press conference earlier today, Hagyuda declined to confirm media reports of the US request, but said Japan had been a “driving force in the growth of the LNG market” for decades.
“We would like to look at how we can contribute to the international community,” he said.
But as cold winter weather is expected to continue, impoverished Japan would need to secure its domestic supplies first.
“We will see if there is anything that can be done to ensure that people’s lives are not affected,” he said.
The situation in Ukraine has had a significant impact on the stable power supply in Japan, so Japan will monitor the situation closely, he said.
Russia and the West are in conflict with Ukraine, raising fears of a disruption to Europe’s energy supply.
Last week, the United States, the world’s largest gas producer, asked Qatar and other major energy producers to consider whether they could supply Europe if Russia cut off supplies as a result of the Ukraine crisis.
A source told Reuters last week that Qatar would need US help to persuade its buyers to supply gas to Europe, where 30% -40% of energy needs are met by Russia.
Japan imported 74.32 million tonnes of LNG in 2021, but surrendered to the position of the world’s largest buyer in China, which increased imports of very cold fuel by 18%, setting a record high.
Kazumori Kasai, chief executive of JERA Global Markets, told reporters that it would not be easy for Japan to redirect some of its imports to Europe.
“It will not be so easy, although it will not be impossible,” Kasai said.
“In general, it will not be easy as Japanese utilities have few spare supplies during the winter,” he said, adding that there will be contract issues, as some long-term contracts include a destination clause that sets out where cargo can be distributed and places restrictions. to buyers to resell surplus gas.
Asked about the consequences of an escalating crisis in Ukraine, Kasai said: “It depends on what kind of economic sanctions will be imposed on Russia.”
His company is the trading arm of Japan’s largest power generator, JERA, one of the world’s largest LNG buyers.
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