The United States and Australia understand Japan’s repeated requests for higher liquefied natural gas (LNG) output and stable supply, industry minister Koichi Hagiuda said in Sydney on Wednesday.

“I have again asked the United States and Australia which share values with Japan to increase LNG production and ensure a stable supply, and both countries have shown an understanding to our position,” Hagiuda told a virtual news conference.

Hagiuda attended a meeting of energy ministers from the Quad, which includes the United States, Japan, Australia and India, held earlier in the day.

If Japanese companies show any interests in signing new purchase agreements for LNG or in investing in LNG projects, the government will actively support them through public finance and other measures to help strengthen Japan’s LNG procurement capabilities, Hagiuda said.

Resource-poor Japan is facing a historic energy security risk as tensions with Moscow intensify, heightening the threat of gas supply disruptions at a time when global supply is tight and spot prices are sky high.
Source: Reuters