THE JAPAN-TEXAS ENERGY OUTLOOK: CRISIS TO COOPERATION
In March 2011, Japan’s energy needs were suddenly transformed when the massive Tohoku earthquake and subsequent tsunami led to a meltdown at the Fukushima Daiichi nuclear power plant. In the wake of the disaster that sparked the country’s worst energy crisis in the post-war period, Japan shut down its nuclear power plants and Texas shale gas and LNG helped compensate for the loss.
Now, ten years after the Fukushima nuclear accident, as the coronavirus pandemic threatens LNG imports, Japan finds itself in the midst of another energy crisis. Low LNG inventories coupled with colder-than-expected weather has spurred gas demand in Japan and caused The Japan-Korea Marker, North Asia’s spot LNG benchmark, to jump to an all-time high.
With the Japan’s post-Fukushima vulnerability further exposed by COVID-19 and the Suga administration committing to a net zero target by 2050, what is the longer-term perspective for energy producers and consumers alike? How is Japan going to diversify its portfolio to meet its enhanced demands for energy security? Will public investment focus on “green energy” or will the pressure of high unemployment and vast public debts lead to other priorities? What are key areas for ongoing Texas-Japan collaboration, bilaterally and in leading change globally?
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About the Speakers:
Jun ARIMA
Senior Policy Fellow for Energy & Environment, Economic Research Institute for ASEAN and East Asia (ERIA)
Jun Arima was formerly Director General of the Japan External Trade Organization (JETRO), UK from 2011 to 2015 and Special Advisor on Global Environmental Affairs for the Ministry of Economy, Trade and Industry (METI), Japan, from 2011 to 2015. He has previously held various international energy/environment-related positions, including: Head of Division, Country Studies, International Energy Agency (IEA); Director, International Affairs Division, Agency of Natural Resources and Energy, METI; and Deputy Director General for Environmental Affairs at METI’s Industrial Science and Technology Policy and Environment Bureau. In the COP (UN Convention on Climate Change) 14, 15 and 16, he was Japanese Chief Negotiator for AWG-KP. He is currently a Professor at the University of Tokyo, Japan, where he teaches Energy Security, International Energy Governance and Environmental Policies in the Graduate School of Public Policy (GraSPP).
Jane NAKANO
Senior Fellow, Energy Security and Climate Change Program, Center for Strategic International Studies (CSIS)
Jane Nakano is a senior fellow in the Energy Security and Climate Change Program at the Center for Strategic and International Studies (CSIS). Her areas of focus include U.S. energy policy; global market and policy developments concerning natural gas, nuclear energy and critical minerals; and energy security issues in the Asia-Pacific region. She frequently writes and speaks on these issues at domestic and international conferences and to media around the world. She has also testified before Congress on U.S. liquefied natural gas (LNG) exports and before the U.S.-China Economic and Security Review Commission on U.S.-China nuclear energy cooperation. Prior to joining CSIS in 2010, Nakano worked in the Office of Policy and International Affairs in the U.S. Department of Energy, where she covered a host of energy, economic, and political issues in Asia. From 2001 to 2002, she served at the U.S. embassy in Tokyo as special assistant to the energy attaché. Nakano graduated from Georgetown University’s School of Foreign Service and holds a master’s degree from Columbia University’s School of International and Public Affairs.
Takuo MONGUCHI
Senior Vice President, Tokyo Gas America Ltd.
Takuo Monguchi joined Tokyo Gas Co., Ltd. in 1999 after earning a Masters of Engineering in Applied Chemistry from The University of Tokyo, Japan. He served as the Operation Engineer of the Negishi LNG Terminal and the Manager of Tokyo Gas’ Energy Production Department before being seconded to Shell Global Solutions International in 2019 for a two-year term. Mr. Monguchi’s return to Tokyo Gas in 2011 saw him managing the Operation Department of the Negishi LNG Terminal. Prior to joining Tokyo Gas America Ltd. as Senior Vice President in 2018, Mr. Monguchi was the Deputy General Manager of Tokyo Gas Co. Ltd.’s Corporate Strategy Department.
Tokyo Gas Co. Ltd., Japan’s largest natural gas supplier, is working to lead Japan’s energy diversification efforts--boosting stakes in renewable energy and LNG development operations.
Moderator:
Stephen STAPCZYNSKI
Bloomberg Business Reporter
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