Japanese Trading House Mitsui Considers LNG Project in Alaska
Japanese trading house Mitsui is exploring the possibility of participating in a project to liquefy natural gas (LNG) in Alaska, according to Chief Financial Officer Tetsuya Shigeta. While no concrete decisions have been made yet, the company is considering the potential opportunity.
Japan’s interest in the Alaskan gas sector comes amid efforts to strengthen ties with the United States and mitigate potential trade tensions. Sources revealed that Japan is contemplating providing support for a $44 billion gas pipeline project in Alaska, a move aimed at fostering a positive relationship with U.S. President Donald Trump.
Shigeta expressed optimism regarding a meeting scheduled between Prime Minister Shigeru Ishiba and President Trump, anticipating that it could bolster Japan’s standing in the U.S. market. Japan is currently the largest source of foreign investment for the United States, and the meeting is seen as an opportunity to solidify this relationship.
When questioned about Mitsui’s interest in the LNG project in Alaska, Shigeta highlighted the region’s strategic advantage due to its proximity to Japan and other Asian markets. While acknowledging the project as a promising venture, he refrained from divulging specific details or policies at this stage.
As discussions unfold, Mitsui’s potential involvement in the Alaskan LNG sector could signify a significant step towards expanding the company’s presence in the global energy market. The strategic positioning of Alaska as a key player in LNG production makes it an attractive prospect for Mitsui and other industry players seeking to capitalize on the growing demand for natural gas in Asia.
(Source: Reuters – Reporting by Yuka Obayashi; Writing by Katya Golubkova; Editing by Christopher Cushing and Clarence Fernandez)