Utility chief says that increased US LNG exports will benefit Japan under Trump
The head of Japan's utilities union said that a potential increase in U.S. fossil-fuel production and exports of liquefied gas under Donald Trump’s new presidency could lead to lower fuel prices for Japan.
Trump has stated that he plans to lift the moratorium on new LNG permits, imposed by the administration of President Joe Biden. His advisers believe this could happen as soon as his inauguration day on January 20.
Japan is the second largest LNG buyer in the world after China. The United States accounts for less than 10%.
Kingo Hayashi is the chairman of Japan’s federation for electric power companies. He said at a press conference that the U.S. was one of the countries most important in diversifying sources of procurement. If U.S. exports of LNG increase under Trump's administration, this would be good news for Japan.
He said that increased U.S. gas and oil production, and the export of LNG would be a positive development for Japan as it would give them more energy options.
He said that it would be advantageous to Japan if the U.S. could provide cheap energy on a regular basis.
He also warned: "We will also closely monitor the future developments."
Trump has pledged to increase U.S. oil production and natural gas, which are already at record levels, by removing what he considers unnecessary bureaucracy and regulation.
(source: Reuters)
