Promoting Alberta’s energy in Japan

May 31, 2024

This year’s Summit and Exhibition runs from June 3-5 and will serve as a showcase for innovative ideas and technologies to foster cross-border collaboration in the Asia-Pacific region, energy security and the transition to decarbonised energy ecosystems. The 2024 event will focus on Japan’s current and future energy mix from natural gas to hydrogen, ammonia and renewables.

“Alberta has the potential to become a leading global supplier of responsibly produced energy, including natural gas, hydrogen and ammonia that are in high demand in Japan for industrial and manufacturing uses. In Japan, I will be building relationships and making connections with the leaders and innovators of one of our largest trade partners, which will lead to jobs for Alberta’s energy workers and incredible investment opportunities for our businesses.”

Brian Jean, Minister of Energy and Minerals
One topic of importance will be the Hydrogen Society Promotion Bill recently announced by the Japanese parliament, National Diet of Japan, which will allow Japan to provide 15-year subsidies for locally produced and imported low-carbon hydrogen and ammonia to reduce their reliance on higher-carbon energy sources. Alberta is working directly with Japanese companies interested in sourcing ammonia from Alberta for use in electricity generation as part of their efforts to move Japan’s power grid away from coal. Transporting hydrogen in the form of ammonia is a way Alberta can meet export demand and improve cost competitiveness in the hydrogen market.

Minister Jean will travel with two staff. Trip expenses will be posted on the travel and expense disclosure page.

The Alberta government is committed to working with its national and international partners to advance shared interests that can lead to new opportunities for people and businesses in Alberta and around the world.

Video: Will the 2025 USDA December Crop Report Be a Market Mover/Surprise?

Historically, the USDA December crop report is a non-event or another dud report as the USDA reserves any final supply changes to the final report in January of the following year in this case 2026. But after the longest U.S. government shutdown in history at 43 days and no October crop report will they provide more data/surprise and make an exception?
Our China U.S. soybean purchase tracker is now at 26.6% or a total of 3.2 mmt but for traders it’s taking too long to unfold.
The final Stats Canada production report was bearish canola and wheat projection a record crop in both (it adds to the global glut of supplies) and bullish local corn and soybean prices in Ontario/Quebec thanks to a drought. It will not help the fund flow short-term, the USDA may need to offset it?
A U.S. Fed interest rate cut of another 25-basis point next Wednesday (probability 87.1%) could help fund flow and sentiment in stock and ag commodities into year end.
More inflows into Bitcoin this past week saw prices rebound back above 90,000 with support at 82,000 and resistance at 96,000.
A V-shaped bottom in cattle suggest the lows are in after Mexico reported another new world screwworm case. Lower weights, seasonal demand and higher U.S. beef select/choice values with a continued closure of the Mexican border to cattle will result in a resumption of higher cattle futures into yearend.
Australia is expected to produce its 3rd largest wheat crop ever at 36 mmt adding to the global glut of supplies.
Reports of ASF in hogs in Spain the largest pork exporter in Europe could see the U.S. win more pork export business long-term.
If the rains verify into next week of 3-5 inches for Brazil it would go a long way to fixing the dry regions from the last 2-months, but the European weather model has been wrong for the past 2-months!
Natural gas futures are surging to the 3rd price count as frigid hold temps set in.
CDN $ is also surging to end the week on a very resilient economy and better employment numbers suggesting no interest rate cuts next week.
Finally, the CFTC report showed funds were net buyers of soybeans but sellers of corn, canola and wheat. In real time the funds have gone back to selling as they take some profits.