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(Bloomberg) — Japanese companies including SoftBank Group, Toshiba Corp. and Hitachi Ltd. have expressed interest in participating in a US gas project announced by President Donald Trump, trade minister Ryosei Akazawa told reporters on Wednesday.
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Other companies have also expressed interest in two additional projects, outlined by the US President, Akazawa said. Mitsui OSK Lines Ltd., Nippon Steel Corp., Modec Inc. and JFE Holdings Inc. are interested in providing supplies for a crude oil export facility project, while Asahi Diamond Industrial Co. and Noritake Co. are interested in purchasing from a synthetic industrial diamond manufacturing facility, Akazawa said.
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The trade minister’s comments follow a post from President Trump overnight, in which he outlined the first set of projects to be developed as part of Japan’s $550 billion commitment to avoid higher tariffs on its exports to the US. It also comes weeks before Japan’s Prime Minister Sanae Takaichi is set to meet with Trump in Washington.
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A fact sheet from the US Department of Commerce listed SB Energy (a subsidiary of SoftBank Group Corp) as the proposed operator of what it described as the largest natural gas generation projects in the world.
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Japanese companies are already among the biggest foreign investors in US power plants and gas developments, as utilities seek to expand outside the domestic market.
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The Japanese and US governments will coordinate further on the details of the projects, Takaichi said in a post on X on Wednesday morning.
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“We believe that this is fully aligned with the core objectives of the initiative, namely promoting mutual benefits between Japan and the US, ensuring economic security, and fostering economic growth,” she said in the post.
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