Japan and other Asia-Pacific countries are preparing to announce agreements totalling at least $30bn with US companies over the weekend, it has been reported.
According to Bloomberg, White House officials, who spoke on condition of anonymity, have indicated that the agreements will cover various sectors, including oil, liquefied natural gas (LNG), coal and nuclear power and involve purchase commitments and related transactions.
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These announcements come ahead of Japanese Prime Minister Sanae Takaichi’s scheduled visit to Washington on 19 March, as well as an upcoming meeting between US President Donald Trump and Chinese President Xi Jinping in Beijing.
The timing of these deals coincides with the inaugural US-sponsored Indo-Pacific Energy Security Ministerial and Business Forum in Tokyo, which will bring together 18 nations, including Bangladesh, Australia and South Korea.
US officials attending the summit include representatives from at least five cabinet-level departments, along with members of the White House staff, the National Energy Dominance Council, the US Trade and Development Agency (USTDA), which is organising the event, and the US Export-Import Bank.
The White House has been encouraging diversification of supply chains for materials used in products like batteries, mobile phones and jet engines, especially following previous trade tensions with China that disrupted supplies.
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By GlobalDataSupply chain vulnerabilities
The ongoing conflict in the Middle East is influencing the discussions by underscoring vulnerabilities in energy supply chains.
Recent disruptions to LNG exports from Qatar have highlighted potential risks of over-reliance on a single supplier and prompted interest in alternative sources.
Closed-door ministerial talks during the event will focus on strategies to ensure reliable energy supplies through cooperation among allied nations, with a strong emphasis on securing critical mineral resources.
During these discussions, US officials are also advocating for increased purchases of American energy and minerals by partner countries.
One agreement set for discussion involves Venture Global’s previously reported long-term contract to supply 1.5 million tonnes of LNG annually to South Korea’s Hanwha Corp subsidiary. Additional deals are expected to be newly revealed at the summit.
US Interior Secretary Doug Burgum was quoted as saying: “With growing production capacity and a proven record as a dependable energy partner, the US is delivering the fuels, minerals and technologies that power resilient economies and secure supply chains for the American people and our allies alike.”
