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The base issue is that the cost of gas fired  electricity generation in Japan is much higher than in Europe and particularly the US.  Oil is generally sold at roughly the same price globally.  Gas prices differ greatly As of May 2012, $2.44/mmbtu in the US, $11.64/mmbtu in Europe, and $16.75/mmbtu in Japan. There's a huge incentive to export gas from North America to Europe and Asia.

And the rush is on. There are 18 bcfd of export projects here.  On the West Coast alone there are 4.1 bcfd of proposed project, which are likely going to go to Asian markets. Using your conversion factor, that's 0.41 TWh daily. Divided by 24, you get something 17,000 MW of capacity. Or ~15% of total electrical generation.

Even if the Japan isn't supplied entirely from North America, this is going to seriously drive down costs.



And I'll give my consent to any government that does not deny a man a living wage-Billy Bragg

by ManfromMiddletown (manfrommiddletown at lycos dot com) on Sun Jun 24th, 2012 at 04:00:15 PM EST
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