The 2021 Japan Currents Houston Conference was held on Tuesday, March 9. This virtual edition of the Japan Currents Houston Conference marked JASH’s 6th year of bringing together experts from Japan and the U.S. to examine the Japan-America alliance and its impact on Harris County and Texas.
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, with the coronavirus pandemic threatening 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?
Stephen STAPCZYNSKI, reporter for Bloomberg covering Asian energy business, kicked off the panel by providing a brief summary of the energy markets in Texas and Japan over the last few months. Jun ARIMA of ERIA discussed Japan’s 2050 carbon neutrality goal and the importance of nuclear energy to Japan’s decarbonized future. Jane NAKANO of CSIS addressed policy shifts under the Suga and Biden administrations along with areas for potential collaboration. Takuo MONGUCHI of Tokyo Gas America discussed its efforts to lead Japan’s energy diversification efforts by boosting stakes in renewable energy and shale gas through the acquisition of Castleton Resources and a 500MWac solar farm.
Through the presentations and discussions, it was made clear that the pathway to “Net-Zero,” while fraught with challenges, holds great potential for U.S. and Japan bilateral collaboration.
MODERATOR
Stephen STAPCZYNSKI
Bloomberg Business Reporter
PRESENTATIONS
Jun ARIMA*
Senior Policy Fellow for Energy & Environment, Economic Research Institute for ASEAN and East Asia (ERIA)
Japan’s Energy and Climate Challenges
Jane NAKANO*
Senior Fellow, Energy Security and Climate Change Program, Center for Strategic International Studies (CSIS)
Discussion on the US’s Changed Priorities under Biden Administration
Takuo MONGUCHI*
SVP, Tokyo Gas America Ltd.
Tokyo Gas & Tokyo Gas AmericaCompany Introduction
*view bios here
SPONSORS
This conference, made possible with support from The Embassy of Japan in Washington D.C. and the National Association of Japan America Societies (NAJAS), provides the Houston-Harris County community with the opportunity to explore impact of U.S-Japan energy partnerships on our area.
