• 1 day PDVSA Booted From Caribbean Terminal Over Unpaid Bills
  • 1 day Russia Warns Ukraine Against Recovering Oil Off The Coast Of Crimea
  • 1 day Syrian Rebels Relinquish Control Of Major Gas Field
  • 1 day Schlumberger Warns Of Moderating Investment In North America
  • 1 day Oil Prices Set For Weekly Loss As Profit Taking Trumps Mideast Tensions
  • 2 days Energy Regulators Look To Guard Grid From Cyberattacks
  • 2 days Mexico Says OPEC Has Not Approached It For Deal Extension
  • 2 days New Video Game Targets Oil Infrastructure
  • 2 days Shell Restarts Bonny Light Exports
  • 2 days Russia’s Rosneft To Take Majority In Kurdish Oil Pipeline
  • 2 days Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 2 days British Utility Companies Brace For Major Reforms
  • 2 days Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 2 days Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 3 days Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 3 days OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 3 days London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 3 days Rosneft Signs $400M Deal With Kurdistan
  • 3 days Kinder Morgan Warns About Trans Mountain Delays
  • 3 days India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 3 days Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 3 days Russia, Saudis Team Up To Boost Fracking Tech
  • 4 days Conflicting News Spurs Doubt On Aramco IPO
  • 4 days Exxon Starts Production At New Refinery In Texas
  • 4 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 4 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 4 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 5 days China To Take 5% Of Rosneft’s Output In New Deal
  • 5 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 5 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 5 days VW Fails To Secure Critical Commodity For EVs
  • 5 days Enbridge Pipeline Expansion Finally Approved
  • 5 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 5 days OPEC Oil Deal Compliance Falls To 86%
  • 5 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 5 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 6 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 6 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 6 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 6 days Aramco Says No Plans To Shelve IPO
Controversial Azeri Pipeline Receives $500M Funding

Controversial Azeri Pipeline Receives $500M Funding

The European Bank of Reconstruction…

Big Oil Refuses To Give Up On The Barents Sea

Big Oil Refuses To Give Up On The Barents Sea

Despite failures in the Barents…

Zainab Calcuttawala

Zainab Calcuttawala

Zainab Calcuttawala is an American journalist based in Morocco. She completed her undergraduate coursework at the University of Texas at Austin (Hook’em) and reports on…

More Info

Perry To Sign Agreement To Facilitate LNG Exports To Japan

LNG

U.S. Energy Secretary Rick Perry’s ongoing trip to Japan is slated to be a boon for liquefied natural gas (LNG) exporters. Sources told Bloomberg that Perry will sign an agreement to promote American LNG in resale venues for developing nations surrounding Japan.

A natural gas oversupply problem has pushed Tokyo to become a LNG resale hub for the developing countries in its circuit. At this point, Japan is the largest LNG importer in the world.

The Secretary looks forward to having a productive dialogue with Japanese officials about a multitude of issues, including the potential for increased LNG exports from the United States to Asia,” Shaylyn Hynes, a spokesperson from the Department of Energy, said in an email.

American LNG exports to Japan have occurred on an on-and-off basis since June 2011, data from the Energy Information Administration (EIA) shows. Currently the commodity is sold at a rate of $7.18 per thousand cubic feet – the highest level since August 2015.

In January, Japan bought its first shipment of liquefied natural gas derived from fracking. The 70,000-ton cargo was the first of a series of shipments that will total 700,000 tons by the end of 2017.

In 2016, most US LNG exports went to customers in the Western Hemisphere,” Richard D. Kauzlarich, former U.S. ambassador to energy hubs Azerbaijan and Bosnia said earlier this year. “[S]hipments to East Asia (especially Japan and China) will overtake destinations in this hemisphere in 2017.”

Related: Canada Pushes For Zero Emission Vehicle Strategy

Asian destinations for American oil and gas exports will spur the kind of economic development President Donald Trump promised constituents during his campaign, analysts say. Congress allowed companies to begin selling oil to other countries in December 2015, with the approval of the Obama administration.

“We see few better ways for the Trump administration to deliver on its promises of job creation and trade deficit reduction, than liquid natural gas agreements with major importers, such as China, India, Korea and Japan,” said Michael Roomberg of the Burner Tip Fund.

By Zainab Calcuttawala for Oilprice.com

More Top Reads For Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • Naomi on June 02 2017 said:
    10KW gas turbines generate economical electricity in a small package. USA LNG could replace OPEC oil in most of Asia.

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News