Mapping the Energy Future

This episode is talking about “Update: Impact of Iran Crisis and Responses by Japan”. Nearly six months have passed since the attack on Iran started. While the outlook for the Iran crisis is still unclear, Mr. Terazawa will provide an update on the impact of the crisis on Japan and the responses by Japan to enhance its energy security.

This episode is talking about “Energy Security Enhancement could be affected by Australia’s LNG Policy”. Drawing lessons from the Iran crisis, the discussion explores why strengthening energy security is a growing priority for Asia. It examines Australia's role as a key LNG supplier, the potential impact of its proposed domestic gas reservation policy on future LNG investment, and why investment-friendly policies could deliver long-term benefits for both Asia's energy security and Australia's economy.

This episode is talking about “Asian Energy Crisis” requires more attention and unique responses. While the world focuses on a global crisis, Developing Asia is being hit much harder than Emerging Asia. Mr. Terazawa shares his thoughts on why financial aid alone isn't enough and why a physical supply of energy is essential. He also addresses the critical need for stronger regional energy security and AZEC's role as a foundation for this transition.

This episode is talking about “Japan’s exposure and responses to the Iran Conflict”. While the prospect of the Iran conflict is hard to predict, Mr. Terazawa will share with the listeners the exposure and responses of Japan to the conflict.

This episode is talking about “The start of ETS in Japan”. Japan’s new ETS, launching in April and covering 60% of national emissions, introduces a growth‑oriented design with realistic allowance allocation and free credits through FY 2033. With early energy‑transition support, a price band to spur investment, and limited carbon‑credit offsets, the system also creates new opportunities for global low‑carbon solution providers.

This episode is talking about “PM Takaichi’s Triumph”. PM Sanae Takaichi won the Lower House election, largely due to her strong popularity and the opposition parties’ weaknesses. Her victory enables her to pass legislation without relying on opposition support. While her administration is expected to maintain the overall direction of existing energy and climate policies, the mega‑solar sector may face notable impacts.

This episode is talking about “Significant Progress in Nuclear Power in Japan”. Local governors have approved restarting KK Unit 6 and Tomari Unit 3, signaling growing momentum for nuclear power in Japan. While this marks a major step, challenges remain for further restarts and reactor replacements.

This episode is talking about “Various Pathways for Decarbonizing Road Transport in the Global South”. BEVs are not the only solution for the Global South. In Indonesia, their life-cycle CO₂ emissions are currently the highest among powertrains and may remain so, while deployment costs must also be considered. Brazil benefits most from combining biofuels with hybrids, and biogas is a practical option for India. In some regions, climate conditions make BEVs less suitable, so road transport strategies should reflect local circumstances.

This episode is talking about “The integration costs of variable renewable energies must be considered”. LCOE alone doesn’t reflect the true cost of power. When integration costs of variable renewables are included, solar becomes expensive at high penetration levels. In Japan and ASEAN, total costs rise sharply beyond 34–50% VRE. A cost-effective energy mix must consider these integration costs.

This episode is talking about “Energy Efficiency of AI & Energy Efficiency by AI”. How AI is driving up energy demand—especially in data centers—and how improving its efficiency could help reduce global energy use. With the right strategies, AI could boost energy efficiency across industries by 2035, but it will require training, incentives, and better data practices.

This episode is talking about “Global Energy Outlook: Strong Demand Driven by India and ASEAN”. IEEJ’s Global Energy Outlook outlines rising energy demand—especially in India and ASEAN—alongside strong global gas use and ongoing coal expansion. While deep CO₂ cuts by 2050 are possible with technology, the 1.5°C goal is unlikely. Achieving 2°C remains feasible with more effort, and climate adaptation is increasingly vital.

This episode is talking about “Japan’s International Initiatives in the Energy Sector”. While Prime Minister Shigeru Ishiba has been struggling with political difficulties following the defeat in the Upper House election in July, leading to his announcement on September 7 to resign from the Presidency of LDP, the ruling party, he has also been leading Japan in a series of international energy initiatives.

This episode is talking about “Japan’s Politics Update”. This episode follows up the developments since the Upper House election held on July 20th. With the ruling coalition parties’ defeat, politics is becoming very fluid. Mr. Terazawa will explain Japan’s political situation, which is increasingly complex and confusing.

This episode is talking about “Japan’s Upper House Election on July 20th”. Japan's Upper House Election will be held on July 20th. The election results could have a major impact on the political landscape, but there is a lot of uncertainty, and the outcome is difficult to predict. Although it may have a significant political impact, its impact on energy policy will be minor.

This episode is talking about “Japan’s Policies to support investment in power generation”. Japan has been liberalizing its power sector over the past 30 years, but challenges remain in achieving both a stable power supply and decarbonization.

These efforts can be valuable lessons for designing power markets under the energy transition.

This episode is talking about “ Japan’s Carbon Pricing”. The Japanese Government submitted the bill earlier this year to introduce an ETS (Emissions Trading System) to its Diet. The ETS will mark a significant step in the introduction of carbon pricing in Japan. Mr. Terazawa will explain the design of the Japanese ETS.

This episode is talking about “LNG for Japan & Asia”. Japan’s 7th Strategic Energy Plan recognizes the important role of LNG, and imports in 2040 are expected to be between 54 Mt and 74 Mt. The expansion of LNG supply from North America is also important, with four options (Gulf, Mexico, Canada, Alaska) each presenting its own pros and cons.

This episode is talking about “Finance for the Energy Transition in EMDM”. At COP 29, a pledge was made to transfer at least $300 billion per year from advanced economies to Emerging Markets and Developing Markets (EMDM) by 2035. But have we looked closely enough at the barriers to financing? Mr. Terazawa will share his takeaways from this conversation at the Davos meeting this year.

This episode is talking about “Energy discussions in Davos”. Mr. Terazawa will share the discussions in Davos, to which he was invited during the week of January 20th. There were so many discussions in Davos that he can only cover mostly energy related topics. These are solely his takeaways from Davos, and he is quite sure that some of you who attended may have different views.

This episode is talking about “Japan’s 7th Strategic Energy Plan”. The draft for Japan’s 7th Strategic Energy Plan (the Plan) has been approved by the government policy committee of which Mr. Terazawa is a member. The Plan will be put to a public comment process and is expected to be decided by the Cabinet in February. Mr. Terazawa will share an overview of the Plan.

This episode is talking about “Are BEVs the only path to decarbonize the passenger vehicle sector?”. In many countries Battery Electric Vehicles (BEVs) are considered the only powertrain toward the pathway for decarbonizing the passenger vehicle sector. But the choice of the powertrain must be determined based on a Life Cycle Analysis (LCA) basis considering GHG emissions region-by-region. This analysis presents a very different picture for the future of passenger vehicles.

This episode is talking about “Are we on the path towards 1.5℃?”. COP29 ended with mixed achievements. The return of Donald Trump as President-elect certainly put cold water on the discussions. As countries are now preparing for their next NDCs, Mr. Terazawa believes that it is an appropriate time to assess where we are on our path towards 1.5℃.

This episode is talking about “The Impact on energy policies of the political turmoil in Japan”. The general election of October 27 turned out to be a surprise to many. The ruling parties lost their majority. Prime Minister Shigeru Ishiba was confirmed to continue as Prime Minister of Japan as of November 11, despite leading a minority coalition. His government will face many challenges.

This episode is talking about “New Prime Minister Shigeru Ishiba and his energy policy”. Shigeru Ishiba recently won the presidential race of the LDP and, as of October 1, he became the new Prime Minister of Japan. Mr. Terazawa will explore the extent of his energy policy in this episode.

This episode is talking about “The Legacy of PM Fumio Kishida and the remaining issues”. Prime Minister Fumio Kishida announced that he will not seek his reelection. He will leave behind a significant legacy in the energy sector. His successor will need to address several important remaining issues.

This episode is talking about “Without transmission, No transition”. Although so far relatively less attention has been paid to the power grid, the fact is that it will play a crucial and fundamental role to a successful energy transition. The experience of Japan may provide valuable lessons for the world.

This episode is talking about “Election of parliament in EU and its implications for energy and climate policy. Right-wing parties made strides in the European Parliament elections held in June. This is said to be due to a change in the mindset of European citizens, and its impact on future European energy and environmental policies is attracting interest. This time, we will invite experts from Germany to share their perspectives on the latest situation in Europe.

This episode is talking about “The 7th Strategic Energy Plan of Japan: The points to watch”. On May 15th, the Government of Japan launched its process to develop the 7th Strategic Energy Plan to identify the direction of Japan’s energy policies for the future. It is worth looking into the discussions of the advisory committee in charge of developing the Plan.

This episode is talking about “Challenges for the power sector: The need for changes”. The power sector is becoming more important than ever because it holds the key to decarbonization. A highly digitalized society cannot be maintained without stability in the power sector. Nevertheless, the power sector is currently facing several challenges which are not limited to a single country but are similar among many of the advanced economies. It is worth looking into actions that would be necessary and appropriate for all countries. Belief in the laissez-faire of the day-ahead market to resolve everything is becoming outdated. New policy interventions and systems are required.

This episode is talking about “ Japan’s Hydrogen Promotion Act: Framework for Market Creation”. In contrast to the significant number of project announcements to supply clean hydrogen, the official number of offtake agreements has remained very limited. Japan’s Hydrogen Promotion Act (HPA), authorized by Japan’s Diet on May 17, could be the trigger to create a global demand for clean hydrogen, contributing to the development of a global hydrogen market.

This episode is talking about “CBAM vs. International Trade”. After a three-month deadline extension, the EU’s CBAM (Carbon Border Adjustment Mechanism) is just about to complete its first quarterly reporting of the transitional period. As CBAM’s full implementation is scheduled for January 1st 2026, Mr. Terazawa believe it is time to assess its potential impact on international trade and to adopt necessary measures needed to address any negative impacts.

This episode is talking about “Pause on Pending Approvals of LNG Exports: Problems that need to be addressed”. On January 26, the Biden Administration announced a pause to the LNG export authorization process to non-FTA countries. It came as a big shock to LNG importing countries such as Japan. The responses in the US were mixed. Some experts, including those in the US administration, argue that the impact of the pause is very limited while other may consider it as sending the wrong message to the market. Mr. Terazawa, CEO, IEEJ, believe that we must investigate the reasoning behind these differences.

This episode is talking about “The gap between aspiration and reality for carbon neutrality”. G7 members’ GHG reduction is off- track from NDCs & carbon neutrality paths, and energy intensity improvement is off-track from the IEA-NZE scenario. Such gap between aspiration and reality for carbon neutrality necessitates “Plan B”. Mr. Terazawa, CEO, IEEJ, will talk about need for preparing for “Plan B”.

This episode is talking about “Progress Report of Japan’s GX Strategy”. One year has passed since Prime Minister Kishida announced Japan’s GX (Green Transformation) Strategy in December 2022. Mr. Terazawa, CEO, IEEJ, will share the progress made so far.

This episode is talking about “COP 28: Inclusiveness, Breadth, Challenges”. The international press focused on the reference to fossil fuels in the COP 28 final document and was relieved to find a compromise was reached on the language through the use of the expression “transitioning away from fossil fuels”. But there were a lot more in the COP 28 that deserve attention.

This episode is talking about “Demand Side Approaches to Critical Minerals”. As the world pursues its energy transition towards carbon neutrality, we cannot avoid discussing and sufficiently stressing the importance of critical minerals. Concerns are rapidly rising over the sufficiency of their supply and concentration of suppliers. So far, measures to tackle these concerns have largely been addressing the supply side. Why are we not looking into measures to adjust the demand side as well?

This episode is talking about “Long transition with uncertainties”.　IEEJ recently published its official annual global energy outlook for 2050. This is a forecast based outlook, not a back-cast based outlook such as the NZE scenario by IEA. What is most likely to happen based on a set of reasonable and well-grounded assumptions as portrayed by forecast outlooks may be quite different from what needs to happen to realize a pre-determined objective, such as carbon neutrality by 2050, as portrayed by back-cast outlooks.

This episode is talking about “The rare earths embargo of 2010 and its lessons”. There are strong interests in the need to enhance the resilience of the supply chains of critical minerals these days. This point was clearly emphasized in both the G7 and G20 Leaders’ Declaration. A high-level international conference on critical minerals to which many ministers participated has just been hosted by IEA, on September 28.

This episode is talking about “G20 New Delhi: Accomplishments and remaining issues”. The G20’s New Delhi Leaders’ Declaration was announced on September 10. In the absence of President Putin and President Xi, the international media, as expected, was quick to highlight the tension and divergent views over the Ukraine conflict. Consequently, the messages from the Declaration concerning energy/environment did not receive near the attention they deserved. With the participation of leaders from both the West and the Global South, the G20 can be considered as an international forum representative of the basic global direction.

This episode is talking about “G20: The voice of the Global South in energy policy”. The G20 Energy Transitions Ministers’ Meeting in Goa, India produced its Outcome Document and Chair’s Summary on July 22. The comparison between those documents and the content of the G7 Hiroshima Summit Communiqué that was released last May, deserves close attention. The discussion among energy think tanks from ASEAN, East Asia and India that took place in New Delhi just before the Ministers’ Meeting, was also of interest and very informative. That workshop was organized by the Energy Research Institute Network (ERIN), and co-organized by ERIA and TERI. In brief, the voice of the Global South was expressed in those two events far more clearly than during the G7 Summit.

This episode is talking about “Why are energy outlooks so different? It is the demand!”. There are as many long-term energy and emissions outlooks for the future as there are organizations that prepare them. The results could differ dramatically. When governments and companies rely on outlooks to support their policy and investment decisions, such wide variations in results raise concerns. Why are they so different? Mr. Terazawa provides an explanation on several points from energy outlooks.

This episode is talking about “8th OPEC International Seminar in Vienna, Austria”. The seminar included a special session, four Ministerial Sessions and six High-level Roundtables. Regarding the OPEC seminar, Dr. Koyama summarizes the important points, and briefly touches on the OPEC Award.

This episode is talking about “Japan’s Second Hydrogen Strategy”. Japan’s second hydrogen strategy was decided and announced on June 6th, 2023. The first strategy, formulated in December 2017 by the Japanese Government, was in fact the first strategy released in the world by any national government. Three roadmaps have been prepared to complement the first strategy. Similar strategies were later introduced by other countries. Considering the pioneering role of Japan’s first hydrogen strategy, this second one is also worthy of attention. Mr. Terazawa explores some of the details of Japan’s second hydrogen strategy.

This episode is talking about the following question, “Is Europe's Natural Gas Crisis over?”. Based on the exchange of opinions during his business trip to Europe last week, Dr. Koyama speaks issues related to the European gas crisis that shook the international energy market last year.

This episode is talking about “G7 Ministerial Communiqué”. The G7 Ministers of Climate, Energy and Environment met in Sapporo on April 15 & 16 and issued their communiqué on April 16. This communiqué provides one of the major building blocks for the G7 Leaders’ Meeting which will be held in Hiroshima on May 20 & 21. Mr. Terazawa highlights several points from the communique.

This episode is talking about “Energy Transition and the Importance of Industrial Policy”. Dr. Koyama will panoramically review Japanese, North American and European conditions regarding the topic looming as a key matter of concern to the world.

This episode is talking about “The need to integrate Economic Security and Global Climate Change policies”. These days, economic security and global climate change are often cited as the two most important issues. Yet, the two issues are addressed separately without meaningful coordination between the adopted policies. The world needs to integrate these two issues.

This episode is talking about “Why Energy Efficiency?”. For many, pursuing energy efficiency is not as attractive as developing renewable energies. While you can see the tall towers of wind power generation, you cannot easily appreciate most of the energy efficiency measures that have been introduced. Even if energy efficiency is considered less attractive, it does not mean that it is not as important as renewables. In fact, energy efficiency could and should play a major role in our paths towards carbon neutrality.

This episode is talking about “44th IAEE INTERNATIONAL CONFERENCE in Riyadh, Saudi Arabia”. For the first time, the IAEE held its prestigious annual international conference in the Middle East from February 4-9, 2023. The event addressed critical topics under the theme “Pathways to a clean, stable, and sustainable energy future”. 

This episode is talking about “50 years after the First Oil Crisis”. This year marks the 50th anniversary of the First Oil Crisis that took place in 1973. As we are again in the middle of a global energy crisis, it is important to look back to 1973 and draw lessons that can be incorporated into our response to the current crisis.