The logo of Japanese trading company Mitsui & Co. is seen in Tokyo, Japan, January 10, 2018.
Japan, the world’s second-largest LNG importer after China, is focusing on securing stable and flexible energy sources to meet rising electricity demand. This increase is driven by the rapid expansion of data centers, which, according to Wood Mackenzie analysts, could consume as much electricity as 15 to 18 million households by 2034. The data center sector is expected to account for around 60% of Japan’s total power demand growth during this period.
The agreement also supports the broader expansion of U.S. LNG exports, as the United States remains the world’s largest exporter of the fuel. It reflects the continued strengthening of energy trade relations between the U.S. and Japan while providing additional market opportunities for American LNG producers.
The announcement coincided with a sharp 11% decline in Venture Global’s share price following news that Shell (SHEL.L) had challenged its arbitration loss to the U.S. LNG producer. The challenge came only weeks after BP (BP.L) won a similar case worth more than $1 billion. Both arbitration disputes involve Venture Global’s alleged failure to deliver LNG under long-term contracts while it sold cargoes on the spot market during a period of soaring prices after the conflict in Ukraine began.
In a new filing, Shell stated: “While the bar to challenge arbitration decisions is high, we believe an appeal is justified because Venture Global withheld crucial evidence.” The company emphasized the importance of transparency and fairness in the arbitration process.
Venture Global has been actively expanding its portfolio of long-term LNG supply agreements with international partners. So far in 2025, the company has secured a total of 6.75 million tonnes per annum in new long-term contracts. In the past week alone, it signed two additional 20-year supply deals — one with Spain’s Naturgy (NTGY.MC) and another with Greece’s Atlantic-SEE LNG Trade. These agreements add to recent contracts with Malaysia’s Petronas, Germany’s SEFE Energy, and Italy’s Eni (ENI.MI).
The latest deal with Mitsui underscores Japan’s commitment to diversifying its energy imports while maintaining reliable supply chains. For Venture Global, the agreement further consolidates its role as a major global LNG supplier and strengthens its presence in the Asian market, where energy demand continues to rise steadily.
