Tier 2 Us Steel

• [UNVERIFIED] Nippon Steel partnered with Tokyo Gas (through Japanese cross-ownership) to secure US natural gas supplies, completing the vertical integration from energy input to steel production, despite US government objections.

  In Japan, Nippon Steel has a partner, right? Cross ownership. It’s called Tokyo Gas. And what did Tokyo Gas do in March of 2025? They took over US Shield company for $525 million which is being approved by the US government.

• [FALSE] Nippon Steel’s $15 billion acquisition of US Steel was framed as inevitable because the combination of Japan’s energy import dependency and US natural gas abundance (Louisiana and Texas) makes domestic US steel production using arc furnaces economically rational in the new regime.

  They paid 15 billion for the company. They’re putting two or three billion into the arc furnaces. It’s their own patented technology into US steel. And guess what? They own the gas company to run their mills.

  • Correction: The acquisition was blocked by the Biden administration on January 3, 2025. The deal was never completed. US Steel remains under US domestic ownership and control. The arc furnace investment and natural gas rationale were part of Nippon Steel’s proposal, but the deal was killed by CFIUS.