Japan is encouraging energy importers to secure liquefied natural gas (LNG) past 2050 — the deadline the second-biggest buyer of the fossil fuel has set itself for net zero emissions.
Several of the country’s largest LNG buyers are considering 20-year supply deals with projects that would start after 2030, according to people with knowledge of the discussions, who asked not to be named as the negotiations are private. They aim to deploy technology such as carbon capture and storage to mitigate the emissions from burning the super-chilled fossil fuel under Japan’s national target.
The government expects a boom in artificial intelligence, data centers and semiconductor chip-making factories to revive power demand, which has been tracking a declining population for years. It sees LNG as vital to energy security, even as it works on increasing renewable energy generation and restarting nuclear reactors idled after the 2011 Fukushima No. 1 disaster.
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