Japan’s Top Gas Importer Considers Buying From Alaska LNG

(Bloomberg) -- Jera Co. could procure liquefied natural gas from a proposed export project in Alaska, as part of Japan’s efforts to negotiate a trade deal with the US.

“We see Alaska as one promising procurement source,” Naohiro Maekawa, an executive at the world’s biggest LNG buyer, said at a press conference on Monday. 

The long-delayed $44 billion Alaska LNG facility is trying to court Asian importers, including Japan, South Korea and Taiwan, and has became a pet project of US President Donald Trump. The plant has been proposed in various forms for decades, but has struggled to secure binding long-term contracts and investment. It requires the construction of a pipeline stretching more than 800 miles (1,300 kilometers).

It is important to further diversify the company’s procurement portfolio, Maekawa said, adding that the US accounts for about 10%. The company doesn’t currently have a specific figure for how much the US share will increase.

Japanese Prime Minister Shigeru Ishiba said earlier this month that the project should be included in a trade package. South Korea may also consider participating. The US is seeking a summit to discuss the project with Japan and South Korea’s ministers on June 2, the New York Times reported. 

Tokyo Gas, another Japanese LNG buyer, said it is also monitoring Alaska LNG. 

“We will keep a close eye on the project,” Tokyo Gas Chief Financial Officer Taku Minami said at a briefing on Monday. The company isn’t in talks to increase imports of US LNG in 2026, he added.

(Updates to add comments from Jera executive in the fourth paragraph. An earlier version corrected the headline and first sentence to clarify that Jera is considering procuring LNG from the Alaska project, and not an investment.)

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