US offers Asia-Pacific a stable energy alternative as Middle East war disrupts flows, with billions in deals expected from Tokyo forum.
TOKYO: The United States can provide “reliable” energy supplies to the Asia-Pacific region, US Interior Secretary Doug Burgum said.
He made the statement as conflict in the Middle East cripples the region’s traditional oil and gas flow.
Oil and gas prices have surged since US-Israeli strikes on Iran killed its supreme leader and plunged the Middle East into war.
The conflict has virtually halted traffic in the Strait of Hormuz, a key transit point for the vast majority of Asia-bound oil and gas.
Burgum told a Tokyo forum that President Donald Trump’s “energy dominance” policy ensures energy for domestic prosperity and for sale to allies.
This guarantees the region a “reliable, affordable and secure” supply that “can’t be interrupted by a terrorist regime,” he said.
Burgum also addressed the need for a secure supply of critical minerals like lithium and cobalt.
This push aims to cut dependence on top exporter China for minerals vital to EVs, solar panels and smartphones.
The forum brings together 17 regional countries with US energy companies aiming to seal commercial agreements.
Countries including Japan, South Korea and Thailand are expected to announce at least USD 30 billion in energy and minerals deals.
Japan unveiled a memorandum of understanding with Washington to jointly finance “strategic infrastructure” projects in emerging markets.
Tokyo has agreed to invest USD 550 billion in the United States by 2029 in return for lower tariffs.
Japanese giant Hitachi and US firm GE Vernova agreed to explore Southeast Asia for opportunities to build next-generation small modular reactors.
US company Venture Global concluded a long-term contract to supply 1.5 million tons of liquefied natural gas to a South Korean subsidiary.
“The United States is by far the largest oil producer in the world. So when prices go up, we make a lot of money,” Trump posted this week.
The president is a staunch supporter of the oil industry and has championed his “drill, baby, drill” mantra.
