Asia set to pledge $30 billion in energy, mineral deals with US

Japan and other Asia-Pacific nations are set to unveil at least $30 billion worth of agreements with US companies this weekend, as Trump administration officials descend on Tokyo to press for more collaboration with regional allies on energy and critical minerals.

The deals will take the form of purchase commitments and other transactions spanning a range of products and sectors, including coal, oil, liquefied natural gas and nuclear power, according to White House officials, who asked not to be named before the announcements.

The flurry of activity comes in the run-up to Japanese Prime Minister Sanae Takaichi’s visit to Washington on March 19 and US President Donald Trump’s planned trip to Beijing to meet Chinese President Xi Jinping in roughly three weeks.

The first-ever US-sponsored Indo-Pacific Energy Security Ministerial and Business Forum in Tokyo comes as the White House seeks to diversify US supply chains for the critical minerals used in mobile phones, batteries, jet engines and other products. Under Trump, the US has already taken steps — including buying stakes in mineral companies — to wean itself off supplies from China after a trade dispute halted the flow of some materials last year.

A phalanx of American government officials are attending the summit being organized by the US Trade and Development Agency — including more than a dozen representatives from at least five cabinet-level departments as well as the White House, its National Energy Dominance Council, the USTDA and the US Export-Import Bank. Overall, some 18 nations are set to participate, including Australia, Bangladesh and South Korea.

The Middle East war — and the energy-related disruptions it’s spawned — are set to heighten the intensity of discussions, underscoring the benefits of diversifying supplies of natural gas and other commodities. The suspension of LNG exports from Qatar’s state-owned energy company — long viewed as the world’s most reliable supplier — has highlighted the risk of relying on one region for critical energy supplies and could give a commercial boost to US rivals.

Trump’s energy-dominance agenda “is about making sure that we have prosperity at home” as well as “enough energy to be able to sell to our friends and allies, so they don’t have to buy from our adversaries or be threatened by our adversaries in terms of their supply chains,” Interior Secretary Doug Burgum told reporters while traveling to Tokyo Friday. “That policy is more important than ever.”

Ministers are set to huddle in closed-door discussions centered around the view that dependable energy supplies developed in partnership with trusted allies are essential for regional stability, economic growth and competition in an AI-fueled environment. Critical minerals will be a particular focus, a White House official said.

While Washington is seeking to diversify its mineral supply chains, Trump administration officials are also making the case for other countries to buy from the US.

“With growing production capacity and a proven record as a dependable energy partner, the United States is delivering the fuels, minerals and technologies that power resilient economies and secure supply chains for the American people and our allies alike,” said Burgum, who also heads Trump’s NEDC.

At least one deal set to be discussed over the two-day weekend event has previously been announced: Venture Global Inc.’s long-term contract to supply 1.5 million tons a year of LNG to a subsidiary of South Korean conglomerate Hanwha Corp. But others will be new, a White House official said.

Bilateral talks between US and Japanese ministers will help set the stage for Takaichi’s meeting with Trump next week. By hashing out where partnerships can be made they’ll help set the table for the White House talks, one of the officials said.

(By Jennifer A. Dlouhy)