Key facts
- Over 20 companies, including Mitsui & Co. and Tokyo Gas, formed an electricity trading association.
- The association will advise the government on a new market for long-term electricity supplies.
- Mitsui & Co. is also seeking LNG investments to meet rising power demand from data centers.
Japanese power companies and trading houses, including Mitsui & Co. and Tokyo Gas, have formed an association with over 20 businesses to advise the government on its plan to establish a market for long-term electricity supplies. The group convened on Friday.
Mitsui & Co., one of Japan's largest diversified trading and investment groups, is actively seeking liquefied natural gas (LNG) investments in regions such as the Middle East, the United States, and Australia. This strategy is driven by the increasing power demand from data centers globally, according to Mitsui CEO Kenichi Hori. Hori noted that companies powering artificial intelligence infrastructure are creating significant additional demand for LNG.