Japan's JERA sees rising competition for U.S. LNG as Asia, Europe demand grow
Japan's top power generator JERA expects competition for U.S. LNG to increase as demand from Asia and Europe rises, its Asia CEO said. "There are many potential buyers. Asian and European buyers are really interested in U.S. energy. So, there are many competitors,” JERA Asia CEO Izumi Kai told Reuters on the sidelines of the India Energy Week conference.
Companies in the U.S., the world's largest exporter of LNG, are pushing ahead with projects for new or expanded export capacity after the Trump administration in January lifted a moratorium on new LNG export permits. Trump's decision could pave the way for almost 100 MMtpy of additional LNG by 2031.
Currently, 10% of JERA's offtake volume come from the U.S., Kai said. "Going forward, we may increase sourcing of U.S. LNG depending on (price) competitiveness," he added. Kai said the company was looking at multiple competitive LNG projects along the U.S. Gulf Coast, but declined to say if JERA was looking at taking a stake in Woodside Energy's Louisiana LNG project.
Woodside is seeking to sell a 50% stake in the Louisiana LNG project, which it fully owns following the $1.2 billion acquisition of developer Tellurian Inc in October. "We will continue to identify the better project for us," Kai said, adding that the company was looking at opportunities globally including the Middle East, and Australia. "So if something happens in a particular area we can still manage physical supply," he said.
Related News
Related News
- Three killed, two injured in accident at LNG construction site in Texas (U.S.)
- Update: How Germany is building up LNG import terminals
- Digital Exclusive: The value of experience—Why expertise matters in compressor overhauls and revamps
- Croatia's LNG terminal to auction 0.75 Bm3 of regasification capacity in May
- Glencore to offtake 2 MMtpy of LNG from Commonwealth LNG's export facility in Cameron Parish, Louisiana
Comments