JBIC Governor MAEDA’s Video Message for LNG Producer-Consumer Conference 2021

JBIC Governor MAEDA's Video Message

MAEDA Tadashi, Governor of the Japan Bank for International Cooperation (JBIC), sent a video message for the LNG Producer-Consumer Conference 2021, which was jointly hosted by the Japanese Ministry of Economy, Trade and Industry and the Asia Pacific Energy Research Centre (APERC) on October 5, 2021. The video message is available on the LNG Producer-Consumer Conference 2021 website.

• The LNG Producer-Consumer Conference 2021 website
• Video Messages (the LNG Producer-Consumer Conference 2021 website）

The LNG Producer-Consumer Conference is an international event annually held by host countries Japan and Qatar since 2012. It is a platform for LNG producer and consumer countries to share their long-term outlook on LNG demand and supply and to cooperate for transparency in the LNG market. At past conferences, which have attracted participants including cabinet ministers from approximately 30 countries and regions, the participants actively discussed issues pertaining to the LNG market as well as actions that producers and consumers should take to make the market more transparent and sustainable. In 2021, the 10th LNG Producer-Consumer Conference was held online, the same as the previous year, due to the COVID-19 pandemic.

In the video message, Governor MAEDA made three particular remarks as follows with regard to JBIC's perspective, based on the importance of LNG as transition energy.

• It is important to continue to provide necessary support with the recognition of LNG as an indispensable source of energy during the transition to achieve decarbonization.
• The decarbonization efforts for the LNG value chain during the transition have never been more important. JBIC places emphasis on initiatives that will contribute toward decarbonization, such as promotion of CCS^*1 and CCUS^*2 in upstream development, CO2 and methane emissions monitoring of each process, and the carbon offset mechanism.
• The movement toward decarbonization inevitably makes gas producing countries that rely heavily on fossil fuel transform their industrial structure, but it also creates opportunities. JBIC will actively contribute toward new initiatives for supply sources of blue and green hydrogen and fuel ammonia as well as cleaner LNG, national-building efforts that utilize green energies, etc., in gas producing countries.

Japan, which has more than 50 years of experience in LNG imports, is the world's largest importer of LNG, and JBIC has been supporting LNG projects globally since the 1970s. In the Fourth Medium-term Business Plan, released in June 2021, JBIC aims to respond to energy transformation toward the realization of a decarbonized society. With the recognition of LNG as an indispensable source of energy during the transition to realize decarbonization, JBIC will continue to provide necessary support, taking into consideration the trend of the transformation.

Note

1. *1 
   Carbon dioxide Capture and Storage (CCS) is a technology that separates and captures carbon dioxide which would become a greenhouse gas and stores it in deep waterbeds or geological formations.
2. *2 
   Carbon dioxide Capture, Utilization and Storage (CCUS) is a technology that utilizes separated, stored carbon dioxide.