TOKYO: Japan’s Minister of Economy, Trade and Industry NISHIMURA Yasutoshi requested Saudi Arabia and other Arab countries to guarantee stable supply of oil.
Nishimura said he had met with executives from Aramco and has proposed talks with Saudi Arabia’s Energy Minister Abdulaziz bin Salman Al Saud.
He also met recently with Sultan Al-Jaber, UAE Minister of Industry and Advanced Technology and CEO of Abu Dhabi National Oil Company (ADNOC), as well as Talal Al-Awfi, Oman’s Minister of Energy and Minerals.
“I requested a stable supply of oil and LNG,” Nishimura said at a press conference at the ministry in reply to a question from Arab News Japan. “I got the reply that they will continue to cooperate with us.”
In the absence of imports from Iran and Russia due to sanctions enforced by the US, more than 90 percent of Japan’s supplies now come from Arab sources.
“It is important for Japan, which lacks resources, to promote a stable supply of crude oil,” Nishimura said. “It is true that oil imports from Russia have stopped and dependence on the Middle East is increasing. We are making decisions on specific sources of crude oil from the perspective of the market.”
“Japan depended on the Middle East for 95 percent of its oil in August and 98 percent in July, so we recognize the region as extremely important in terms of energy security and a stable supply of crude oil.”
Japan is looking to expand its energy business with the Middle East to include clean energy as well as oil and gas.
“We believe that the Middle East is also playing an important role in building the hydrogen and ammonia supply chain,” Nishimura said. “I hope such cooperative relationships will also be strengthened. Furthermore, Japan will strive to diversify its supply sources from the viewpoint of stable supply and security, and domestically also pursue all options, including the utilization and diversification of renewable energy and nuclear energy.”