Jera, the world’s largest LNG buyer, is considering participation in the Alaska LNG project as Japan negotiates a trade deal with the US. Naohiro Maekawa, an executive officer at Jetra, stated in a press conference on Monday that Alaska remains a promising procurement source.
The long-delayed $44 billion LNG project targets Asian markets, especially Japan, South Korea, and Taiwan. President Donald Trump has backed the Alaska LNG plant, which has struggled to secure contracts and significant investments for decades.
The project demands the construction of a pipeline over 1,300 kilometres across the rugged Alaskan landscape. Earlier this month, Prime Minister Shigeru Ishiba stressed the need to include the LNG project in a broader US-Japan trade package.
According to New York, the US plans a summit with Japanese and South Korean ministers on June 2. In addition to Jera’s interest, Tokyo Gas is closely observing the progress of the Alaska LNG project, although it has yet to join discussions.
During a Monday briefing in Tokyo, Taku Minami Tokyo Gas’s CFO confirmed the company’s caution. Jera reported that its profit fell sharply by 54% to ¥183.9 billion for the financial year ending March. The company referred to due to lower returns from both domestic and international power generation operations as the main reasons for the drop.
Jera forecasts an improvement, with profit expected to rise to ¥230 billion in the next fiscal year. Despite the setback, Jera remains optimistic about international procurement opportunities like Alaska LNG.
Tokyo Gas clarified that it has no immediate plan to boost US LNG imports in 2026 and is maintaining a conservative approach for now. However, the company’s ongoing monitoring shows potential room for future involvement depending on negotiations. Potential LNG project participation could become crucial in strengthening trade relations between Japan, the US, and South Korea.
