Japan’s gas empire

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Aug. 30, 2024

Japan's championing of gas minted it a $14 billion profit last year. Graphics: Spe Chen/Bloomberg

Read the story Even with few reserves of its own, Japan dominates the $250 billion global trade in liquefied natural gas, taking a role at every stage of the supply chain. Major Japanese companies netted at least $14 billion in profit from their gas-related businesses in the most recent fiscal year, roughly equal to the combined profits of the country's top consumer electronics makers.  Efforts to spur consumption of LNG have put Japan at the center of a crucial climate debate. Switching to the fuel from more polluting coal in developed economies—as has happened in the US—is seen as a benefit. Yet for developing nations, including the Southeast Asia region regarded as key for future gas demand, LNG won't necessarily displace dirtier alternatives, meaning its use could risk adding to the burden of pollution or divert investment from cleaner energy sources. Read The Big Take.

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