September 30, 2022
On September 29 (Thu.), 2022, the Ministry of Economy, Trade and Industry (METI) and the Asia Pacific Energy Research Centre (APERC) held the 11th LNG Producer-Consumer Conference online. This year, amidst the drastic changes in the international energy situation, we deepened our discussions on the future market prospects for LNG, which is attracting increasing attention not only as a response to climate change but also from the perspective of stable energy supply, and the measures required from the public and private sectors.
Messages from ministers from more than 25 countries and from leaders of more than 50 companies and international organizations were posted on the website, and more than 1,600 people from over 44 countries registered to participate.
Note: An archive video of the entire meeting will be published on the official web page.
Overview of the conference
This year's LNG Conference was held at a time of great turmoil in the global energy market and the increasing role of LNG in ensuring a stable energy supply. Last year marked the 10th anniversary of the conference, and with the strong hope that the conference, which marks a new start, will serve as a catalyst for cooperation rather than division and lead to a stable global energy supply, the theme of the conference was "Reorganizing LNG for World Energy Security".
At the conference, METI Minister Nishimura sent a message that there has never been a time when dialogue and cooperation among producing and consuming countries is more needed, that LNG is an indispensable resource for energy transition and stable supply in Asia, and that he hopes that all countries and international organizations will join the circle of cooperation that Japan is promoting. He also said that LNG is an indispensable resource for both energy transition and stable supply in Asia.
H.E. Mr. Saad Sherida Al-Kaabi, Minister of State for Energy Affairs, State of Qatar, had a powerful message to the world that LNG is a major driving force and central to a responsible and realistic energy transition. Dr. Fatih Birol, Executive Director of the International Energy Agency (IEA), expressed his concern that we are currently in the midst of a global energy crisis. He also presented an analysis of the current LNG and natural gas market, particularly in Europe.
METI Minister Nishimura made three announcements in the spirit of cooperation. The first is the aim to build more cooperative LNG relationships with Asian countries that share the same concerns and aspirations for stable supply. In Asia, in particular, there has been a return to coal and petroleum due to the inability to purchase LNG and natural gas because of soaring market prices. There are concerns that the lack of electricity and gas, which form the basis of the people’s livelihoods, is not only delaying decarbonization, but is also delaying the transition away from poverty.
In light of this situation, today's conference saw the signing of a Memorandum of Cooperation (MOC) in the field of LNG between Mr. Hosaka, Commissioner of the Agency for Natural Resources and Energy, and H.E. Tengku Mohammad Taufik, President and Group CEO of Petronas, a Malaysian national company. H.E. Dr. TAN See Leng, Singapore's Second Minister for Trade and Industry and Minister for Manpower, also spoke about the role of LNG and natural gas as transition energy, the need for investment in this field, and expectations for cooperation with Japan in the LNG field. He also expressed his expectations for the establishment of a cooperative relationship with Japan in the LNG field.
The second is a public-private cooperation project, in which Japanese public financial institutions will accelerate their consideration of support for LNG procurement by Japanese companies, in accordance with the Japanese government's policy and international consensus.
The third is the launch of cooperation by the private sector. In conjunction with the announcement from Minister Nishimura, the Japanese company JERA and the German company UNIPER gave speeches on the cooperation between the two companies in the procurement of LNG and ammonia and its aims.
This was followed by a dialogue between Dr. Daniel Yergin and Mr. Hosaka, Commissioner of the Agency for Natural Resources and Energy. During the dialogue, both confirmed that LNG is an important resource for both energy transition and stable supply. Dr. Yergin also paid tribute to Japan's unwavering commitment to stable energy supply, and high expectations were placed on Japan's leadership at next year's G7 meeting.
Finally, public financial institutions and leading global companies involved in LNG (listed below) gave presentations on the importance of upstream investment and stable energy supply.
Speakers: Mr. Jesper Koll (Expert Director for the Monex Group and the Japan Catalyst Fund), Mr. Mike Wirth (Chairman of the Board and Chief Executive Officer, Chevron Corporation), Mr. Dan Brouillette (President, Sempra Infrastructure), Mr. HAYASHI Nobumitsu (Governor, Japan Bank for International Cooperation), Ms. Meg O’Neill (CEO and Managing Director, Woodside Energy)
Division in Charge
- International Affairs Division, Commissioner's Secretariat, Agency for Natural Resources and Energy
- Petroleum and Natural Gas Division, Natural Resources and Fuel Department, Agency for Natural Resources and Energy