LNG essential to meet energy demand

 

Mitsui & Co., one of Japan’s largest companies, has underlined the importance of a stable liquefied natural gas (LNG) supply in order to fulfill future energy demand in Japan. The company says that LNG and gas will continue to play an important role long-term in a low-carbon global economy. Despite renewable energy being forecast to grow at a steady 2% per year, fossil fuels, especially LNG, will continue to be a significant source for meeting energy demand to 2040. Japan relies on stable and reliable supplies of LNG and is the world’s largest importer of the product. Following the liberalisation of its electricity market, which has led to new competition among electric utilities, Japan’s retail gas market is also about to be liberalised, which makes this year one of the most pivotal in the country’s energy market. Major utilities are leading the way in driving new international partnerships with Asian customers seeking to drive improved terms and conditions in their fuel procurement.

Contact Hiroyuki Sakanaka, Mitsui & Co, hiroyuki.sakanaka@mitsui.com

 

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Source: EE plublishers

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