Japan Urges LNG Buyers to Sign Long-Term Deals for Fuel Security
- Trade ministry has asked importers to sign more contracts
- Long-term LNG supply to drop 30% by 2030, government body says
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Japan’s government is asking liquefied natural gas importers to secure new decades-long supply deals under efforts to boost energy security.
The Ministry of Economy, Trade and Industry has been meeting with Japanese buyers, as well as overseas suppliers, to urge the signing of more long-term LNG contracts, according to people with knowledge of the discussions. The push is meant to insulate Japan from future supply shocks, as well as potentially harsher sanctions against Russian fuel exports, the people said.