Current Russia-India bilateral trade is running at US$66 billion with a target to increase this to US$100 billion by 2030.

Japan will continue participating in Russian liquefied natural gas (LNG) projects on Sakhalin Island due to their strategic importance for the country’s energy security,

Japan, South Korea and Taiwan have all said they are considering investments in a long-delayed $44 billion LNG export project in Alaska backed by Trump.

The US, Japan and South Korea have committed to placing US LNG to bolster energy security and for mutual benefits, the countries said in a joint statement following a foreign ministerial trilateral meeting in Brussels on April 3.

Beijing slapped a 15% tariff on US LNG shipments from Feb. 10 in retaliation to American levies, which was further exacerbated last week by another set of Chinese levies on all imports from the US.

The Alaska energy project should be included in a trade package, Prime Minister Shigeru Ishiba told parliament Monday, as he seeks to put together a sweeping agreement with Washington.

LNG suppliers have invested billions in new export projects on the assumption that China, the world’s top buyer, will underpin demand growth for decades.

“The benefits of expanding U.S. LNG exports have never been more clear, and I am proud to be taking action to support the American people and our allies abroad with more affordable, reliable, secure American energy,”

China is also boosting its energy security by focusing on producing more gas at home, which will help to curb import growth.

While pipeline gas supplies from Russia cover less than 5% of Europe’s fuel needs after most major routes have been closed since 2022, the nation remains the second largest supplier of LNG to the EU. Purchases hit a record last year, with Spain, France and Belgium being the biggest buyers.