Japanese gas companies are preparing plans to source liquefied natural gas from Malaysia, Australia and the US in case of what they fear could be looming disruption of supply from LNG projects that Japan jointly developed with Russia.
The contingency plans could put the world’s third-largest economy in direct competition with Europe for global gas supplies, highlighting Japan’s focus on meeting its own energy needs despite its desire to show solidarity with Russia’s western neighbours.
Japanese gas importers said that while some excess LNG cargos have been shipped to Europe since February, there was no prospect of major diversions from long-term contracts from producers such as Qatar because of Japan’s energy security sensitivities.
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