Energy authority expect that Japan’s reliance on LNG will continue to grow
Japan imported 8.3 million tonnes of LNG in January, an increase of 1.
Ahead of next month’s Gastech Exhibition & Conference in Tokyo, Koichi Wada, Division COO, Natural Gas Business Division, Mitsubishi Corporation stated: “Natural gas has an advantage from environmental and supply-diversification perspectives and could compensate if the targets of other fuels are not achieved. In this context, we see that natural gas could potentially have a higher share in the mix target of 2030 and the trend might continue until 2040.”
The Paris Agreement, which calls for governments to reduce their greenhouse emissions, will transform the future of the Japanese energy mix. Whilst renewable energies will account for a certain percentage in the energy mix throughout the world. The current shortcomings around operability will mean that renewable energies will be unable to supply all energy needs. According to analysts, Eclipse, Japan’stotal LNG demand is predicted to stand at 77 million tonnes by 2020.
Gavin Sutcliffe, Head of Content at Gastech organise, dmg :: events Global Energy, states: “As a signatory of the Paris Agreement, Japan needs to quickly reprioritise its energy policy. Whilst the nation’s energy sector has remained largely unchanged over the past few decades, we are expecting to see significant shifts in the composition of the country’s energy mix in the near future, with a marked preference for LNG and gas.”
Japanese energy companies are continuing to invest in the LNG and gas aspects of their businesses. Mitsubishi recently commissioned the PT Dinggi Senoro LNG (DSLNG) project, demonstration that gas will continue to play a significant role.
Mr Sutcliffe continues: “We are expecting to see Japanese energy companies engaging in the development of prime assets, as well as exploring and cultivating new demand in emerging countries.”
Japan will play host to this year’s edition of the Gastech Exhibition and Conference. Hosted by Mitsubushi Corporation and nine of the country’s biggest energy companies: JERA, Mitsui & Co., Tokyo Gas, INPEX Corporation, ITOCHU Corporation, Japan Petroleum Exploration Co., Ltd (JAPEX), JX Nippon Oil & Energy, Marubeni Corporation and Sumitomo Corporation.
Gastech 2017 will take place over four days from April 4th to 7th in Tokyo, Japan. It promises to bring together top global chiefs, energy experts and decision-makers to explore the key topics affecting the industry.