Seaborne energy trades across Asia Pacific are set to be recast once again with news that Australia’s biggest coal and gas customer, Japan, will slash thermal coal and LNG use by 2030.
The Japanese government yesterday tightened its green goals for the electricity sector, announcing new 2030 targets with a 41% cut in thermal coal and 46% cut in LNG over the next 10 years.
Renewable energy, which includes solar, wind and hydropower, will make up more than a third of the Japan’s power generation by 2030, according to a draft report released Wednesday. That’s up from its previous target of less than a quarter. Hydrogen was also added to the mix for the first time, though with a minimal contribution.
Japan has been the world’s largest LNG importer for decades, a mantle it is set to relinquish this year to China.