According to CoinMeta, as the conflicts in the Middle East continue and maritime transportation in the Strait is disrupted, many Asian buyers have begun to seek alternative supplies of liquefied natural gas (LNG). One of the world's largest LNG buyers, JERA, is seeking to expand its long-term exports of this fuel in order to grow its global business and absorb excess supplies. Japan's largest electricity producer mainly imports LNG for domestic consumption. The CEO of JERA Global Energy Solutions, Irtiza Sayyed, stated that the company is looking to "identify additional markets where it can sell its product." Buyers hope to reduce risks by signing contracts with exporters outside the Persian Gulf, as the Strait of Hormuz once handled one-fifth of the world's LNG shipments.